How long can a solicitor hold money after probate?
How long can a solicitor hold money after probate?
Solicitors can hold money in the estate for a period of up to six months after the grant of probate is received. In some cases, the time may extend further. For example, assets held abroad or shares in a business may take longer to sell. There may also be legal considerations to consider, such as missing beneficiaries.
The probate process can be lengthy and unpredictable. It is essential to be patient and to keep yourself informed of any developments in the estate. A good executor should be able to handle the estate within a reasonable time frame. If there are unknown assets, the executor must allow sufficient time for creditors to make their claim.
It is essential to communicate with beneficiaries to avoid misunderstandings. The executor or administrator must distribute the estate according to the deceased's wishes and the terms of the will. The estate must be distributed as agreed in the will before money can be paid out. The sooner the probate process is completed, the faster the inheritance money is made available to the beneficiaries.
If you have any questions or need a Probate Lawyer, please call this law firm for a free consultation.
Ascent Law LLC
8833 S Redwood Road Suite C
West Jordan UT 84088
(801) 676-5506
