Should I be getting my inheiritance now or after the estate closes?
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Should I be getting my inheiritance now or after the estate closes?
My dad passed a month ago leaving a Trust and a Will. He appointed his brother co-trustee and executor. I am having issues with him as far as his legal obligation to carry out dad’s wishes per the Will and Trust. It states in the Trust that, upon death X is to receive outright $5000 of the then balance of the estate. Does this mean that I should be getting the money right off the bat or do I have to wait for the estate to sell I have a few other issues that I’d like to ask about but I’m mostly concerned with my inheritance.
Asked on May 8, 2019 under Estate Planning, California
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
As a benefciairy, you can't get anything until the probate is closed (i.e. until the process is finished). It's at that the beneficiaries get their inheritance. Until then it's not known what, if anything, there will be left to distribute as there may be creditor claims against the estate which have to be paid first. Bottom line, you'll have to wait for your inheritance.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Inheritances are distributed after the estate closes. It is at at the closing of the estate that the court confirms what everyone inherits and allows its distribution. Pre-closing, during the probate process, an heir's or beneficiary's rights to his/her inheritance is just theoretical, since it has not been determined exactly what assets (e.g. after any claims agains the estate) are there to be distriburted, and the court has not approved the distributions.
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