Q: Do you have to wait one year to settle estate even if the department of revenue has approved the inheritance tax return.
The Estate was advertised in May and I am the Executor and I absolutely know my father does not owe any money to any creditors. He never charged anything. Everything was paid in full with cash and I have paid everything that was due. Ok
A:
Pursuant to PA law, the opening of an Estate must be published in a newspaper of general circulation in the county in which the probate is pending. Creditors of the deceased or estate have one year from date of first publication to file a claim for payment. If the executrix distributes Estate funds prior to payment of all claim, she can be personally liable for any shortfall in the Estate to pay bona fide debts.
There is no other prohibition against an executrix making distributions.
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