Legal Question in Wills and Trusts in Georgia
Time frame from Probate to partial dispersement
My sisters and I are listed as partial beneficiaries of my grandmothers estate. The will was probated more than 6 months ago. How long does the executor have to partially disperse funds, a small portion of the estate? We are being told that we must wait on the IRS estate Tax Closing letter. My step-father who works for IRS says this is not so, and that funds can be dispersed without this letter. AmIi getting the run around from attorney and executor? I just want to know time frame from probate to dispersement!
Thanks in Advance
1 Answer from Attorneys
Re: Time frame from Probate to partial dispersement
There is no absolute deadline for distribution. A Georgia executor has 6 months from the date of appointment to ascertain the assets and liabilities of the estate. During this period, creditors may not sue the estate, nor generally can beneficiaries compel distribution of the estate. After the 6 month "honeymoon" creditors are free to pursue the estate, and any beneficiary can move the court for an accounting. Through the court-ordered accounting process a beneficiary can compel the executor to diligently move the administration of the estate forward (possibly including partial distributions to beneficiaries if indeed there are no valid reasons to retain all of the assets within the estate).