Does state law allow for partial disbursement of liquidated assets before the entire estate is settled?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Does state law allow for partial disbursement of liquidated assets before the entire estate is settled?
The estate includes roughly $900,000 of assets that have been liquidated, and a house apprised at about $165,000 that has yet to be sold. Do we legally have to wait for the house to be sold before any disbursements can be made to beneficiaries?
Asked on August 21, 2015 under Estate Planning, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. If you are asking if the laws of the state of New Jersey allow for the partial distribution of estate assets during probate the answer is yes, they do. SO the executor can do so but it may be their choice. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.