Probate Process: Distributing the Estate

In order to distribute assets from the estate of a deceased individual, it will have to go through the probate process first. Here are the basics of what you should expect at the end of the probate process when it is time to distribute the assets.

Waiting Period

In order to distribute property, the executor of a will have to wait for a particular amount of time. Depending on the jurisdiction, you might have to wait six months before you can transfer ownership of property, such as real estate. 

Distribution

Once the waiting period has passed and there are no more claims from debtors, the executor of the will is free to distribute the assets to the beneficiaries of the estate. The executor typically has the discretion to decide whether they want to provide cash payments to the beneficiaries or if they want to give them physical property instead. As long as the waiting period has passed, the executor can sell the property and get cash for it.

If there is no will for the estate, an administrator is going to be appointed to distribute the assets instead of an executor. They will take the necessary steps to distribute the assets fairly among the beneficiaries.

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