distributing the remaining assets to the beneficiaries
How long an estate stays open after death depends on:
the state’s probate laws
the complexity of the estate
Here are some examples:
If the estate is simple and all parties cooperate, the probate process can take as little as 6-9 months in some states.
If the estate is large and complex, with multiple assets and disputes among beneficiaries, it could take several years to fully probate.
In some states, the probate process can be expedited for small estates with a total value of less than $50,000.
In cases where the deceased had significant debts, the probate process may take longer to resolve creditor claims before distributing assets to beneficiaries.
If the estate plan is incomplete or there are disputes over the validity of the will, probate proceedings could be extended until these issues are resolved.
Deadlines For An Estate After Death
Here are the common deadlines of an estate after someone’s death.
Deadline #1: Filing a Will
It’s important to file a will within 10-90 days after death.
(Assuming a valid will exists.)
Failure to file the will within 90 days may result in:
the distribution of belongings being altered
the possibility of being sued by a beneficiary
Intentionally hiding or ignoring a will is considered a criminal offense.
Deadline #2: Initiating Probate
Executors usually have 30 days after a will is filed to initiate probate.
Let’s say the executor does not file a petition for probate within this timeframe.
Then any interested party to the estate can initiate probate, such as:
Just file a petition with the probate court in the county the deceased person lived in.
The court will then appoint an administrator to:
handle the estate
distribute assets according to the state’s laws
Deadline #3: Claiming a Debt Against an Estate
Creditors have 30 – 120 days to claim a debt against an estate after getting notice.
Executors need to contact anyone owed money by the deceased.
Creditors usually have 1-4 months to claim their debt.
Filing notice to creditors early can potentially leave more assets for beneficiaries.
Deadline #4: Filing a Tax Return
Executors should file a tax return on behalf of the deceased or estate.
This should get done by the following tax season to avoid:
extra penalties
interest
File the tax return as soon as possible to prevent any unnecessary delays or issues.
How Long Does Probate Take?
Probate takes 6 – 24 months to complete on average.
Here is a breakdown of how long each step of probate takes.
Stage of Probate Process
Estimated Timeframe
Filing the petition for probate
1-6 months
Inventory and appraisal
2-4 months
Notification of creditors
2-6 months
Payment of debts and taxes
6-12 months
Final distribution of assets
12-24 months
Here is a rough timeline of the probate process:
Filing the petition for probate: The executor or administrator of the estate must file a petition for probate with the court. This typically happens within a few weeks to a few months after the death.
Inventory and appraisal: The executor or administrator is generally required to file an inventory of the decedent’s assets with the court within 90 days of being appointed. The assets must be appraised to determine their value.
Notification of creditors: The executor or administrator must notify the decedent’s creditors of the probate proceeding and give them an opportunity to file claims against the estate. This typically happens within a few months of the filing of the petition for probate.
Payment of debts and taxes: The executor or administrator must pay any debts and taxes owed by the decedent before distributing assets to the beneficiaries. This process can take several months to a year or more, depending on the complexity of the estate.
Final distribution of assets: Once all debts and taxes have been paid, the executor or administrator can distribute the remaining assets to the beneficiaries. This typically happens within a year or two of the filing of the petition for probate.
What Happens During Probate?
During the probate process, several things need to happen.
What happens during probate depends on the estate’s:
size
complexity
the state the estate is located in
But the common things that happen during probate are:
Filing the petition for probate: The first step in the probate process is to file a petition with the probate court to open the estate. The court will then appoint an executor or personal representative to manage the estate.
Identifying and notifying heirs and beneficiaries: The executor or personal representative will need to identify and locate all of the decedent’s heirs and beneficiaries, and provide them with notice of the probate proceedings.
Inventory and appraisal: The executor or personal representative will need to take an inventory of all the assets in the estate and have them appraised. This includes identifying and valuing any real estate, bank accounts, investments, personal property, and other assets.
Notification of creditors: The executor or personal representative must notify any known creditors of the estate, as well as publish a notice to creditors in a local newspaper to alert any unknown creditors.
Payment of debts and taxes: The executor or personal representative is responsible for paying off any debts owed by the estate, including funeral expenses, outstanding bills, and taxes.
Final distribution of assets: Once all debts and taxes have been paid, the executor or personal representative can distribute the remaining assets to the heirs and beneficiaries according to the terms of the will or state law if there is no will.
Closing the estate: Once all tasks have been completed and the court approves the final distribution, the estate can be closed.
The executor or administrator of the estate is responsible for these tasks.
They are appointed by the court to manage and distribute the assets.
And they must follow the will’s instructions or the state laws.
What Happens If An Estate Is Not Closed?
If an estate is not closed, it can cause a variety of issues and complications.
Some of the potential consequences include:
Delays in distributing assets: If an estate is not closed, the assets may not be distributed to the beneficiaries in a timely manner. This can lead to frustration and financial hardship for those who are waiting for their share of the estate.
Increased expenses: Keeping an estate open can also lead to increased expenses, such as legal fees and taxes. These costs can eat away at the value of the estate, leaving less for the beneficiaries.
Risk of litigation: If the estate is not closed, it may be vulnerable to legal challenges from beneficiaries or creditors. This can result in lengthy court battles and further delays in distributing assets.
Difficulty in selling assets: If the estate includes property or other assets that need to be sold, keeping the estate open can make it more difficult to find buyers and complete the sales.
Risk of penalties: In some cases, failing to close an estate in a timely manner can result in penalties or fines from the court or government agencies.
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