Q: Why do my siblings and i not have money from dads estate sale. He has been gone 2 years
Oldest was made executor in will. She told the rest of siblings attorney was to release funds from auction at the end of January. That didn't happen. Then she said by end of March,then end of April. Still nothing
A: A typical probate estate is concluded in about nine months. In some estates, there are circumstances that require additional time to sell assets or conclude lawsuits. Given the time that has passed, it would be reasonable for the estate's attorney to explain the delay and identify when the estate may be concluded and an estimate of the costs of administration of the estate. There should have been an inventory and valuation prepared by the executor within 30 days of when the executor was first appointed at the time the estate was opened All of the named beneficiaries of the will should have received a copy of the inventory and valuation. It is prudent for a beneficiary to review the filed inventory and valuation to see if it is accurate and includes all assets at proper valuations. The executor should have also filed petitions to extend the period to administer the estate beyond nine months for additional periods of time as the court allows. It would be reasonable to determine whether those additional periods were sought by the executor. Those extension requests provide an opportunity for the judge to be brought up to date on the progress of the estate and set reasonable limits on further extensions. You should consider hiring an attorney to make the inquiries about the estate's status for you. An experienced attorney will be able to better evaluate the information gathered to determine what further steps, if any, prompt distribution of the assets and the filing of a petition for final settlement with a final accounting.
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