When can I Distribute Property & Close the Estate? After an executor is legally empowered to deal with the assets of a deceased person’s estate, usually after receiving a grant of probate or letters of administration, the assets and interests held by the deceased can be called in and distributed. If you are the administrator of an estate or trustee of a trust, you will need to know if bank accounts need to be included in your property inventory or … Team Eric and Joanne Butler Will Dispute Specialists. For more information, see Distributing the estate . Is there anything that must happen before the assets are distributed? How long after probate can funds be distributed? When the estate’s assets have been successfully transferred to the beneficiaries, the personal representative can petition to close probate. This process is commonly called administration. The will is filed with the probate court by whomever is in possession of it, usually the executor or a beneficiary (in some states only a beneficiary or heir can file the will, but the executor can force them to do so) and it can be filed at any time after the death of the testator, as long as this is within the time limits set by the state. Paying Debts and Taxes. simplyEstate is here to help with the process. If the assets are distributed before then the executor/administrator may be personally liable to pay the debt of claim. How long Estate administration takes, and by extension how long it takes before money can be distributed to Beneficiaries, is dependent on a range of factors. If you decide to have a solicitor assist you after probate or administration has been granted, there will be additional legal costs which are usually paid by the estate. Before you can distribute property to the heirs or beneficiaries and close the estate, you (or whoever is acting as the personal representative) must pay the decedent's debts and the expenses to administer the estate. I will personally respond to your telephone or email enquiry and I am available weekends a It can take some time to gather all the necessary information to complete the paperwork. For free initial advice call our probate advisors or request a callback and we will call you. The amount of debt associated with an estate is arguably the variable that can have the biggest impact on how long the probate process takes. Closing the Estate. A legacy (gift of money) must be distributed within 12 months otherwise the beneficiary can claim interest. Obviously the solicitor will want to hold enough funds to make sure his fees and outlays are covered. If the documents are in order, the Grant of Probate can take between 3 - 18 weeks to be issued. Provided by the Probate & Estate Planning Section of the State Bar of Michigan. This step explains everything you need to know to finalise and complete distribution of estate to Beneficiaries. The Court cannot issue a Grant of Probate until 14 days after the Notice of Intention to apply for a Grant of Probate has been published on the Courts website. Informal probate cases can proceed with the proposed distribution, but formal supervised probate proceedings will require court review and approval. One piece of property that can be distributed outside of probate is bank accounts. Transfer bank account funds. How long after probate should the estate be distributed ? 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