QUESTION
How long does the executor of a will and a trust have to give inheritance to heirs?
Asked on Oct 29th, 2020 on Wills and Probate - Ohio
More details to this question:
I received notification in early June 2020 that my three brother and I were the recepients of money after my late father's wife (stepmother) died. It was in her will and a trust in both of their names. Her children from a previous marriage are the executors. They pretty much inheredited everything else. It is late October and I have not heard anything. Before I contact the lawyer handling the will and trust I wanted to know what the time limits were. Thank you for your assistance.
1 ANSWER
2 Awards
While these vary from state to state, it is far too early for you to expect anything. Among the bills which must be paid before anything is distributed is the 2020 federal income tax. The 2020 federal income tax return cannot be filed until 2021. In some states a beneficiary is entitled to request an accounting 15 months after the executor is appointed but not entitled to request the court to replace the executor unless there has been no distribution for 24 months after the executor is appointed.
Answered on Oct 30th, 2020 at 5:11 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.