My mother passed away 8/23/09. Can the Executor of the Estate begin dispersing funds from the Trust immediately or is the Executor required to wait a period of time to settle the deceased's affairs.
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Read More Answered By: Robert F. Cohen |
It's up to the trustee, who must exercise prudence. Of course, the trustee should consider that taxes for this year might become due in April. There also might be hospital and other medical bills that will need to be paid, as well as utilities. Sometimes, bills might not arrive for two or three months, if not longer. So long as sufficient funds for all of these purposes are retained, I applaud the trustee's attempt to settle the estate expeditiously. The trustee should make sure to keep an accounting, copy all checks and bills, etc., in case someone challenges some of the Trustee's actions. |
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