Legal Question in Wills and Trusts in Maryland
my deceased parents property was settled on July 22/2016. how long by Maryland law does my sister who is the executor have to distribute funds to the heirs of the estate?
1 Answer from Attorneys
The time frame to distribute often has less to do with the date property sells and much more to do with the status of the estate and deadlines for creditors to assert claims. Generally the Personal Representative ("PR") should wait a minimum of six months after the estate is opened to make final distribution. If that time frame has passed and there are no other estate obligations to deal with, the PR should file something called a "Final Account" with the court that shows where the money will go. By law, accounts must be filed periodically. Once that final account is approved, the PR generally distributes within 20 days.
If the estate is proceeding by modified administration (rather than regular administration), the PR should try to make final distribution within 9 months of death (but may seek a 3 mo. extension if necessary).