Legal Question in Wills and Trusts in New York

Hello, On an estate how long does the estate have to be held before distributio, once the executor is appointed, ty

Asked on 9/10/18, 11:53 am

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

There's no easy and absolute answer to that question. There are no exact rules or regulations. Most of the time the executor will make partial distributions to the legatees, and hold money back for taxes and whatever other expenses might pop-up. The executor is not required to wait even one day before making distributions, but that would probably not be wise because expenses usually come up weeks and months later, and there needs to be money in the account to pay.

Read more
Answered on 9/10/18, 12:20 pm

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New York