Q: Our lawyer advised us to wait a year to access estate funds after our mother's death and is now not answering our calls.
Step stepfather had structured settlement payments that passed to my mother when he died. Her lawyer was her payee for those payments and now she has died. He sends me the monthly checks. My sister and I do not trust him and hired an estate planning attorney. He filed probate and put a creditor ad our and told us to not access the funds until a year after her passing. We are personal representatives of the estate and have an account which we have been putting the monthly checks into. He is now not answering our calls and we need to know if we can start dispersing the funds divided equally as agreed to us and our siblings.
A:
Thank you for sharing your situation with me regarding the structured settlement payments that have passed on to your mother and are now distributed to you by her lawyer. I understand the concerns you and your sister have regarding the handling of these funds.
In terms of when you can start dispersing the funds divided equally among your siblings, there is no strict rule that dictates the exact timing. It is indeed common practice to wait approximately one year after the passing of the individual to ensure all necessary paperwork, including taxes on income, are appropriately accounted for. This waiting period allows for a thorough assessment of the estate to be conducted to guarantee that all debts and obligations are settled before any distribution takes place.
Once you decide to distribute the funds, it's crucial to understand that this decision is final. If distributions are made prematurely or incorrectly, the personal representative may bear personal liability towards creditors. It's essential to proceed with caution and ensure that all legal requirements are met before releasing any funds to beneficiaries.
If you continue to face challenges in communication with the lawyer and require further assistance, do not hesitate to explore other legal avenues to address your concerns. Your commitment to overseeing the estate responsibilities diligently is commendable, and seeking clarity on these matters is a thoughtful step towards ensuring a fair and lawful distribution of the funds. Stay proactive and informed throughout the process to navigate this situation with confidence and integrity.
I hope this helps.
Wes Winsor
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