Q: Mother-in-law died a year ago- left me $50,000 I'm having a hard time receiving and I need to know what I need
The executor which is her brother Everett lawyer says the house needs to sell before I receive my money I don't think this is correct it doesn't state that in the will -will currently in Probate
A: Hello estate heir. The probate attorney and executor may be correct. If the estate does not have liquid cash, may have to sell hard assets to fund the inheritance. But more important is the priority of distributions. First, creditors and claims, expenses, legal, accounting fees and bills. After the bills are paid, heir get their share according to the Will. Beneficiaries are last in line for estate payouts. You may have to wait out the 4-month creditor claim period before any money goes to heirs. The does not dictate the priority of all payments, just some. But look at it like this, bills first, attorneys, tax pros next, heirs last. The executor will go by the Will if funds are still available after the bills are paid off. This process could take 8 months before payout, so be patient.
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