Suing An Estate Executor With No Money In Contra Costa
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California law says the personal representative must complete probate within one year from the date of appointment, unless s/he files a federal estate tax. In this case, the personal representative can have 18 months to complete probate.
As an executor, you must provide a formal accounting at least once a year, but beneficiaries can request an informal probate accounting in California at any time.
California generally requires for the executor to distribute assets within a year of being appointed, although there are many circumstances that can cause the executor to require more time, which they may be able to get by requesting an extension from the court.
In other words, heirs receive their inheritance at the end of the probate proceeding. Generally, this is at least 10-18 months after the probate petition is initially filed with the court. Once the judge has issued the order for distribution, estate heirs can expect to receive an inheritance check within a few weeks.
If you are: a person (this includes sole-proprietors) you may claim up to $12,500; if you are a Corporation, limited liability company or partnership, you may claim up to $6,250.
Generally, in California creditors of a decedent's estate have up to one year (365 days) from the decedent's death to file a timely creditor claim. The claim must be filed inside an open probate court proceeding.
The executor or trustee can sell the property without approval from all beneficiaries as long as they are selling it in the best interest of the beneficiaries and the trust and at market value. This decision depends on several factors, including the debt the deceased person had.
Once the probate process begins, the executive of the estate has 12 months to complete the probate process. One exception to this rule would be if a federal tax filing is required as part of the probate process. In that case, the courts allow 18 months to settle an estate.
