California | Wills and Trusts
Legal Question
Inheritance release to heirs
What is the time frame for the inheritance to be released to the heirs of the will? Is the a specific time frame?
Share This On:
Legal Answer
|
Read More Answered By: Eric Kochel |
Re: Inheritance release to heirs There is no specific time frame for the payment to heirs under a will that is being probated (which I assume is the case here). It very much depends on the size and nature of the estate. For example, if a home or real estate must be sold or distributed - that will certainly take longer than distributions of cash or securities. However, my general experience in New York and New Jersey is that a partial distribution is often made in approximately 4 months. However, the final distributions (which finally close out the estate) generally come after 13 to 18 months. This is because Federal Estate Tax must be paid, State Death Tax must be paid and approved by the State, Final Estate Income Taxes must be paid and all legal, administrative and general expenses must be met. In order to do this, the Executor and his/her attorneys must retain adequate funds in the estate account until the very end (again, usually 1 - 1 1/2 years). However, please keep in mind that I am speaking very generally. Estates vary widely in size and complexity. Some may take a much longer time to complete. |
Share This On:
Top Attorneys in CA
Libris Solutions - Dispute Resolution Services
Walnut Creek, CA
Questions Answered: 10416
Last Question Aswered on: 2012-05-26
Law Office of Robert F. Cohen
San Francisco, CA
Questions Answered: 6348
Last Question Aswered on: 2012-05-26
Law Offices of Georges H. Shers
Union City, CA
Questions Answered: 6114
Last Question Aswered on: 2012-05-15
Law Office of Anthony A. Roach
Tarzana, CA
Questions Answered: 5434
Last Question Aswered on: 2012-05-16
www.SelikLaw.com
San Diego And Las Vegas, CA
Questions Answered: 2000
Last Question Aswered on: 2012-05-18
Law Offices of Phillip C. Lemmons
Fountain Valley, CA
Questions Answered: 1776
Last Question Aswered on: 2009-04-15
Law Office Of Robert McCoy
Ontario, CA
Questions Answered: 1584
Last Question Aswered on: 2010-12-04
James E. Smith Ltd.
Las Vegas, NV
Questions Answered: 1456
Last Question Aswered on: 2012-05-25
The Law Office of Daniel Bakondi, APLC
San Francisco, CA
Questions Answered: 1146
Last Question Aswered on: 2012-01-03
Scott H. Linden, Esq.
Los Angeles, CA
Questions Answered: 1120
Last Question Aswered on: 2010-02-19
Search Questions and Answers