Legal Question in Wills and Trusts in New York
I was notified that I was a heir of a house that is in contract and will be closing soon. How long does it take before I get my share after closing. ..
1 Answer from Attorneys
Depends upon a number of factors such as whether or not the estate has a potential liability for death taxes and, if so, if the necessary forms have been filed and approved (this could take months to resolve) and/or whether or not the property has been released from potential death tax liens (this could also take a few months to obtain), and/or if you have signed any required documents to receive the inheritance like a Release and Refunding Bond,. So the conservative response could be from a short time a few days or so, to months if other activities must be completed before distributions are to be paid.