Legal Question in Wills and Trusts in Massachusetts
Estate not settled yet questions
Our dad passed almost 1 1/2 years ago and the house hasn't been put on the market yet, but executrix says it will be this spring. Can the executrix hold onto insurance policy monies this long, some of us want our share now? Should the account be listed as an Estate of.... and how many authorized people should be on it? What exactly does it mean to probate a will?
1 Answer from Attorneys
Re: Estate not settled yet questions
You have one year from the opening of the estate for claimants to file claims. the estate tax returns are due within 12 months of the date of death and can be extended up to 6 months without penalty.
The estate may start to disburse funds once it has determined the liabilities of the estate.
If there is a trust involved there are different rules. I would suggest you take a copy of your father's Will, the accountings that have been filed and the trust document to an attorney and have to situation reviewed.
I would be happy to assist you.
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