Legal Question in Wills and Trusts in Florida
Estate liquidation
Is there an approximate time frame that a home and contents should be put up for liquidation so that proceeds can be distributed to the estate since that act was specified in the will?
1 Answer from Attorneys
Re: Estate liquidation
There are numerous matters that need to be examined.
Has the estate been opened and are you the PR? If not you cannot act.
Sometimes it takes quite a while to sell, sometimes it does not. What is the neighborhhod like? Are properties selling or Not?
Do you need to obtain a formal appraisal to limit Capital Gains Tax. If so obtain that first. What type of contents are in the house and do they need an appraisal. W
hat other assets are avaiable to pay creditors? If not many or none and there is significant debt get moving now.
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