The Executor Release Form is a critical document in Indonesian estate administration that formally concludes an executor's responsibilities and protects them from future claims. It becomes necessary when an executor has completed all duties in administering an estate, including asset collection, debt settlement, tax compliance, and final distribution to beneficiaries. The document must conform to the Indonesian Civil Code (KUHPer) and, for Muslim estates, comply with Islamic inheritance principles under Law No. 7 of 1989. Various circumstances may necessitate its use, including complex estates, multiple beneficiaries, or situations requiring formal documentation of estate closure. The form typically requires notarization and may need to be prepared in both Indonesian and English languages.
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1. Parties: Identification of the executor seeking release and all beneficiaries granting the release, including their full legal names, addresses, and capacities
2. Background: Details of the deceased, date of death, will details (if any), executor appointment, and brief overview of estate administration
3. Definitions: Key terms used in the document including 'Estate', 'Administration Period', 'Estate Assets', and 'Final Distribution'
4. Confirmation of Estate Administration: Statement confirming that the executor has completed administration of the estate and distributed assets according to the will or law
5. Acknowledgment of Distributions: Confirmation by beneficiaries that they have received their entitled portions of the estate
6. Release Provisions: Formal release of the executor from all claims, liabilities, and further obligations related to the estate administration
7. Governing Law: Specification that Indonesian law governs the release
8. Execution: Signature blocks for executor and all beneficiaries, with requirements for witnessing
1. Reserved Rights: Used when certain matters are specifically excluded from the release, such as pending litigation or undistributed assets
2. Islamic Law Compliance: Required when the deceased was Muslim, confirming compliance with Islamic inheritance principles
3. Tax Clearance: Include when specific confirmation of tax compliance and clearance is required
4. Dispute Resolution: Added when parties wish to specify method for resolving any future disputes
5. Language Requirements: Required when document is bilingual, specifying which version prevails
1. Schedule A - Estate Assets: Complete list of estate assets and their final disposition
2. Schedule B - Distribution Summary: Summary of distributions made to each beneficiary
3. Schedule C - Outstanding Matters: List of any remaining administrative matters or contingent issues
4. Appendix 1 - Estate Accounts: Final accounting of estate administration, including income, expenses, and distributions
5. Appendix 2 - Tax Clearance Certificates: Copies of tax clearance certificates or relevant tax documentation
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