How long does my sister have to settle the estate?
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How long does my sister have to settle the estate?
My father passed away 9 months ago and my sister is the executrix of the Will. Everything is in a Trust except the furniture and the home. The furniture was sold at auction and those funds were supposed to go into the Trust. I was wondering how long my sister is legally allowed to take before she has to settle the estate. We both want to sell the house, but she hasn’t even put it on the market, it’s been empty for 8 months now so there is no excuse. My biggest fear is that she is just spending the trust fund to go on vacations, shopping, etc. There is a Will stating that we have to split the Trust 3 ways evenly between my sister, my brother and I. I would like
some kind of closure on this.
Asked on October 11, 2019 under Estate Planning, Alaska
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
There is no defined or set time limit in the law. If, however, you, as a beneficiary, believe that she, as executrix is taking too long or is spending estate assets for her own benefit, you can bring a kind of legal action called an action "for an accounting" to make her (as the term implies) "account" for how she has managed the estate. The court has the power to order her to do or not do certain things, to repay any amounts improperly taken or diverted, or can even replace her as executrix. This kind of action can be difficult for a layperson (nonlawyer); you are advised to consult with a probate attorney.
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