Legal Question in Wills and Trusts in Texas
Do all Heirs have to receive money at same time?
My Aunt passed away in May 2006. In July I received a call and then papers to fill out to receive the $10000.00 my Aunt left me in her will. I filled them out and where it asked how did I want to receive the money, I checked direct deposit giving the info on my bank to do this.
Then I receive more papers asking did I want taxes withheld now and to enclose a voided check from my bank. I did as requested and mailed them back.
A few weeks passed and I e-mailed asking when could I expect the money to be deposited to my account. He replied, after all 12 heirs returned their papers. So I then replied, and what if all 12 are unable to be located? Received no response.
My question is, can the money be held like this untill all 12 people do received and return their papers? That could take months or years if only one of the twelve is missing.
1 Answer from Attorneys
Re: Do all Heirs have to receive money at same time?
If all heirs are not able to be located, then the executor is obligated to take other measures for distribution. They can not hold it up indefinitely and have an obligation to take "reasonable measures."