How Long Do Executors of a Will Have to Pass on the Proceeds of an Estate?
When an individual passes away, how long do executors of a will have to pass on the proceeds of an estate? While the exact timeline is based on several factors, it can vary from 30 days to two years.
Process of filing a probate petition
The process begins with the filing of a probate petition. In many cases, the court will issue a decree appointing an executor. In addition to the probate process, there are several other steps that must be taken.
First
First, the executor must create an inventory of all of the decedent’s assets. This will give the beneficiaries an initial understanding of the value of the estate. The estate may then have to sell some of the property to pay debts or to generate money. This will also help the court determine if any state or federal estate tax is owed.
Second
Next, the executor must make sure the estate is properly administered. This may include securing valuables, collecting rent, and evicting nonpaying tenants. Before distributing the remaining proceeds, the executor must ensure that creditors are paid.
Once the executor has made all of these payments, the residual bequests can be distributed. The executor must also pay any administration expenses and taxes.
Third
After the estate is settled, the executor will provide a written account of the executor’s actions. This is called judicial accounting. During this phase, the interested party must sign a formal account and a receipt and release.
Once the judicial accounting process is complete, the executor can then distribute the remaining funds from the estate. The process can take months to complete, so it is important that the executor work with a financial advisor.
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Roy, Utah
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Roy, Utah
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Roy Municipal Center
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Location in Weber County and the state of Utah
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| Coordinates: 41°10′14″N 112°2′55″WCoordinates: 41°10′14″N 112°2′55″W | |
| Country | United States |
| State | Utah |
| County | Weber |
| Settled | 1873 |
| Incorporated | March 10, 1937 |
| Named for | Roy Peebles |
| Government
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| • Type | Mayor-council government |
| • Mayor | Robert E. Dandoy |
| • City Council | Jan Burrell, Bryon Saxton, Joe Paul, Ann Jackson, Diane Wilson[1] |
| Area | |
| • Total | 8.14 sq mi (21.07 km2) |
| • Land | 8.13 sq mi (21.07 km2) |
| • Water | 0.00 sq mi (0.00 km2) |
| Elevation
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4,541 ft (1,384 m) |
| Population
(2010)
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| • Total | 36,884 |
| • Estimate
(2019)[3]
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39,613 |
| • Density | 4,869.45/sq mi (1,880.14/km2) |
| Time zone | UTC-7 (Mountain (MST)) |
| • Summer (DST) | UTC-6 (MDT) |
| ZIP codes |
84067, 84401
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| Area code(s) | 385, 801 |
| FIPS code | 49-65110[4] |
| GNIS feature ID | 1432035[5] |
| Website | Roy City |
Roy is a city in Weber County, Utah, United States, located on the west side of Interstate 15. The population estimate in 2019 was 39,613, an increase of 5.8% from 36,884 at the 2010 Census. It is part of the Ogden−Clearfield, Utah Metropolitan Statistical Area, and is considered a suburb of nearby Ogden, although some small businesses are present in Roy.
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