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How long is the time frame after someone dies can you settle the estate in IL?
Wiki User
∙ 14y ago
In New Jersey, there is no set time limit by which an estate must be settled, although after 1 year, beneficiaries may request that a court order the executor to file an intermediate accounting to show what has been done so far. On the other hand, an estate is technically not supposed to be settled until at least 6 months after the date of death. This period of time is to make sure all proper creditors have been located and paid. No creditor should be paid until after the executor determines how much the estate owes in total.
I am a New Jersey attorney and specialize in probate matters. This is given for information purpose only and is not to be taken as legal advice.
Wiki User
∙ 16y ago
Wiki User
∙ 10y agoThere is no legally set time frame. The more complex the estate, the longer it can take to settle.
Wiki User
∙ 14y agoProbate can be a long process. At a minimum it will take about 4 months. There are some estates that are still open after decades of work.
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How long is the time frame after someone dies can you settle estate in Montreal?
There is no specific time frame it will depend on how complex the estate is in Montreal. The estate has to be inventoried and appraised, the debts collected, taxes paid and the terms of the will meet.
How long is the time frame after someone dies can you settle estate in Memphis TN?
There is no time frame specified for Tennessee. The estate has to be inventoried and appraised, the debts collected, taxes paid and the terms of the will meet.
When someone dies is an estate resquired?
It will depend on the debts and assets of the deceased. It is normally a good idea to establish one in order to settle all debts and terminate them if possible.
What if the cosigner dies Is the estate responsible for this debt?
The loan could be held as a claim against the estate. Such things can cause an estate to take many years to settle.
Someone dies with no will who has control over the estate and how would they stop others from taking things?
Someone in the family who is eligible to serve as the estate administrator must petition the court for appointment. Once appointed they will have full control over the estate, and the authority to settle the estate according to the laws in the jurisdiction. They should consult with an attorney who specializes in probate law.
Who is responsible for deceased brothers debts?
When someone dies leaving debts they must be paid first out of the deceased estate and any monies owed to him collected before the remainder of the estate is divided between the heirs and beneficiaries. If there is not enough money in the estate to settle the debts then they "die" with the person.
What happens if someone dies and has no will?
Their estate is held by the court and people are invited to make their case for a part of that estate.
If a person files for bankruptcy and then they die can their estate be held responsible for any of their debt?
When a person dies leaving an estate then the first thing to settle from the estate are their debts which they have before the heirs and beneficiaries are given their share of it so whether a bankruptcy order has been petitioned or made or not this is the rule for everyone that dies leaving an estate.
Is it legal to change the address of someone who dies if you are next a kin?
Not if you are the fiduciary of the estate.
Who is responsible for paying an estate tax?
A person who inherits goods when someone dies.
Who is responsible for paying estate tax?
A person who inherits goods when someone dies.
What is the difference between an estate tax and gift tax?
Estate has to do with when someone dies. Gift tax has to do with when someone makes a gift of larger than a certain value.
