If you have done the necessary planning to ensure that your estate has been discussed with a knowledgeable estate planning lawyer, this is the first phase in protecting your desires and giving your loved ones an opportunity to receive the benefits you intended when you pass away. A common question either as a beneficiary to an estate or as you plan your own estate, is how long it can take for an estate to be settled.
One year is a good rule of thumb for an estate to be settled. It can take a long time to dig through all of the details, to clean out the house or apartment, to file a final tax return, to liquidate any investments, pay off bills and even sell real estate. When everything has been held in trust and there is nothing in probate, it can go a lot faster. The process can also take longer if there are other complications, such as a need to sell real estate.
There can also be issues associated with anyone who files a challenge on the existing status of the will. Set up a consultation with our estate planning attorneys today to discuss how to make your estate easier to handle for your loved ones so that you have the peace of mind that comes with putting all of your estate plans in order.
While it might seem like this process is a long ways off, you don’t want your loved ones dealing with the consequences of your lack of planning. Set up time to speak with an attorney who can help you structure your estate plan the right way.