Liquidating estate assets
Once all assets have been liquidated, or prepared for distribution, how long does it take to distribute estate assets?
There is no definitive answer to that question, but being familiar with some of the factors that affect the probate process can give you an idea of what to expect. You may not have even considered that the location of the court handling the probate proceedings would have an impact on the length of the process.
Each has a right to a hearing, as well as to filing motions, as necessary.
If there are any disputes regarding claims, the probate process will be extended. In addition to the possibility of creditor hearings, if there are any disputes among the beneficiaries, the probate process will take longer.
One primary factor that affects the length of the probate process is the size and complexity of the estate.
Generally speaking, if you have to liquidate your assets it doesn’t have to be an all-consuming process.
In fact, there are a number of simple solutions to the many financial problems you are now experiencing.
The most common types of non-probated assets are those created by contracts and trusts, such as life insurance policies and annuities.
If you have questions regarding the probate process, or any other estate planning needs, please contact Anderson, Dorn & Rader, Ltd., either online or by calling us at (775) 823-9455. Dorn has extensive experience serving wealthy families and business owners in the development of estate, tax and asset protection planning strategies.