(916) 775-8542 How Long Until Final Distribution of Estate Assets?
Losing a loved one brings about so many emotions, from grief and loss to anger and resentment. During this grieving period, you may struggle to understand the estate closing process. Those feelings are certainly expected during this difficult time.
That is why it is so important that the estate’s executor finishes all legal and financial tasks on behalf of the decedent, so you can receive your rightful portion of the remaining assets. If you do not understand these final administrative stages, you are not alone. Stick with us to learn how long it will take until the final distribution of estate assets is made.
Typical Timeline of Final Distribution of Estate Assets
In California, final distribution of estate assets typically occurs within 9 months to 1 year, depending on the estate’s complexity. However, the legal limit is generally 18 months from the executor’s appointment when federal estate tax is involved. A typical step-by-step timeline is:
- Step 1: File a petition to open the estate and appoint the executor (1 to 3 months)
- Step 2: Notify creditors and settle all debts (4 to 6 months)
- Step 3: Inventory and appraise the estate’s assets (1 to 4 months)
- Step 4: Settle the estate’s taxes and pay all expenses (1 to 9 months)
- Step 5: Final assets are distributed to heirs, and the estate closes (9 to 18 months)
What Factors Could Delay Final Distribution of Estate Assets
There are a few factors that could delay your final distribution, most commonly the estate’s complexity. Large estates with real estate holdings, business interests, or high-value collections (such as artwork or vehicles) may take longer to value and manage. Unfortunately, family disagreements or challenges to the will could also halt the process, as would a high volume or complex claims from creditors. If federal estate taxes are due, the timeline could be extended to allow for IRS review, further delaying your payment.
Find Out How Long Final Distribution of Estate Assets Could Take in Your Unique Case
How long until final distribution of estate assets usually depends on the complexity of the estate. However, once all debts, taxes, and expenses are settled, the court approves the final accounting, and the personal representative may distribute the remaining assets to the beneficiaries.
Hackard Law is the firm you can trust for your high-stakes estate and trust disputes in California. So when you have questions about asset distribution, need to contest a will, or petition to remove a personal representative, turn to us for guidance. Rest assured, if we do not win your case, you do not pay us.