How long before assets are distributed
As an executor of a will is there a certain amount of time I am given to distribute the assets to the beneficiaries?
Asked on 9/13/07, 5:11 pm
1 Answer from Attorneys
Jerome Gamache
Ainsworth Thelin & Raftice, P.A.
Re: How long before assets are distributed
Maine statute does not set a hard and fast deadline, but % will accrue on unpaid money devises after a year following the PR appointment, and it is difficult to justify not paying out to beneficiaries once the creditor claims period of 4 months has passed and all libilities are otherwise provided for. The PR has a fiducuiary duty.
Answered on 9/14/07, 10:33 am
