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When settling an estate do you have to wait for everything to sell before getting money or do you get funds as they come in?
Jedimom
you must wait until the house sells, and all bank accounts are accounted for, life insurance, and other earnings the deceased may have had. money is not dispersed as it comes in because nobody knows the amount of the estate yet, estate taxes have to be paid first. and if the deceased had unpaid bills, loans, ect. then all that has to be satisfied. once all those things are done, and there are no surprises. then you will receive a letter from the probate court telling you how much all the heirs will be receiving. if there is money left after bills, funeral costs, or unpaid bills. all this can take anywhere from 2weeks to literally years. so hope it all goes fast for you...it should go smoothly as long as there are no objections from other heirs.
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∙ 13y ago
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Is there a time limit for settling an estate in Ohio?
No, there is no limit to settle an estate. It can take many years for a complex estate.
What are the statute of limitations on settling an estate in Mississippi?
In Mississippi, the statute of limitations for settling an estate typically ranges from two to five years, depending on the specific circumstances. However, it is recommended to consult with a legal professional for accurate guidance tailored to your situation.
How is the estate calculated in a will?
The "estate" is everything belonging to the dead person. It is calculated by subtracting everything owed from everything owned. In other words it is what is left after all the dead persons debts and funeral expenses are payed but before any death taxes are calculated.
Settling the Estate of a Murder victim?
Contact the next of kin or hire a probate attorney to do it.
Is wife responsible for husband's medical bills in Iowa?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Iowa. So before the spouse can inherit anything, the estate has to pay the bills.
What is the statute of limitations on settling an estate in California?
There is no set amount of time. Nine months to eighteen months should be anticipated, but any amount of time over one year may require justification to the courts,
Is wife responsible for dead husband's medical bills in OK?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Oklahoma. So before the spouse can inherit anything, the estate has to pay the bills.
Is wife responsible for medical bills of deceased spouse in Indiana?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Indiana. So before the spouse can inherit anything, the estate has to pay the bills.
Is wife responsible for dead husbands medical bills in Florida?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Florida. So before the spouse can inherit anything, the estate has to pay the bills.
Is wife responsible for dead husbands medical bills in Oregon?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Oregon. So before the spouse can inherit anything, the estate has to pay the bills.
Can the estate's property be sold before the inventory is made?
No. The decedent's debts must be paid before any property is distributed. There is a statutory time for everything during the probating of the estate.No. The decedent's debts must be paid before any property is distributed. There is a statutory time for everything during the probating of the estate.No. The decedent's debts must be paid before any property is distributed. There is a statutory time for everything during the probating of the estate.No. The decedent's debts must be paid before any property is distributed. There is a statutory time for everything during the probating of the estate.
What tasks do executors do when settling an estate?
The first duty is to inventory the estate and value it. Then they have to settle all debts and pay all taxes. Then they distribute the remainder.
