Q: My dad had a will the money has been released to pay bills,but my dads lawyer says we have to wait 3 months before we
can pay us any money to make sure theres no other debts out there which we know there isnt as my sister has taking care of this and dad for 5 years
anyhow is this just the lawyer talking as my sister can write out checks as we know there no debts or is this a law where we would get in trouble
if we each took 50000 as there 300000 in there and we know theres no debts
A:
It is just the lawyer talking about what the law requires. YES you have to wait. The time for waiting varies from state to state (it is 4-5 months in Michigan) but you HAVE to wait before making a 'final' distribution in order to comply with the requirements of satisfying creditors.
If you are so worried about this you can talk about making a partial distribution, (and there may be some reasons to do that) but it should be with the lawyer's knowledge and cooperation to insure it is done properly.
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
Ben F Meek III agrees with this answer
A:
Dr. Zichi is right on. The lawyer is probably just obeying the law. And with an estate with very few creditors and plenty of funds expected to remain for distribution to the heirs, a partial distribution should be available to you upon application to the Court for permission. If all the heirs agree, this shouldn't be a problem. The Court will probably want assurance that some funds will be retained in case an unexpected creditor appears. (FWIW, it is notoriously difficult to be sure all of the medical providers during a hospital visit have been paid. There may be dozens of individuals or clinics or labs or doctor's offices that bill separately. You may think you've got them all and then three new ones show up to collect for x-rays, lab tests, examinations, consultation, etc. Plenty of reason a wise attorney might be cautious.) Then after the claims period lapses, a final distribution of remaining funds can be made and the estate closed. Good luck.
PS: My comments here are for general information only and not advice on your specific situation nor the applicability of any particular law. They are not an invitation to join in, nor intended to create, nor do they create, an attorney-client relationship.
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