Legal Question in Wills and Trusts in California
How long does the executor have to settle a simple will and trust in the state of Calif. Is there a time limit?
House was sold in March. Can he take over a year or more ?
1 Answer from Attorneys
If the estate has been liquidated, and an inventory and appraisal has already been filed, then the executor should either obtain waivers of accounting from the beneficiaries or retain a bookkeeper (at estate expense) to prepare an accounting. Then the executor will have to petition the court to accept the accounting (or waiver), order the final distribution (except for perhaps a reserve for taxes) and close the estate. This final hearing has a 30 day notice period.
Easiest thing to do - contact the law firm representing the executor and ask when they will petition the court to close the estate.
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