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VIC How Long will Distribution of Deceased Estate Take?

Discussion in 'Wills and Estate Planning Law Forum' started by john3125, 8 August 2016.

  1. john3125

    john3125 Active Member

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    Probate has been granted last year. The deceased estate was has had an evalution and both beneficiaries have agreed on the price. One of the beneficiaries is also the executor of will and is the one wanting to buy out the other beneficiary.

    Transfer papers have been signed back in June this year. Stamp duties have been applied for and approved. The estate's solicitor keeps saying the distribution will occur when she does a draft of the distribution, without indicating a timeframe.

    The executor is overseas. How long does this process take, and what is the procedure?

    Help would be greatly appreciate
     
  2. winston wolf

    winston wolf Well-Known Member

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    There is no set time but a year would be the maximum if nothing unusual delayed the distribution.

    In this case, it sounds like the executor is taking their time as there is no benefit to them in hurrying and could even be some benefit in delaying distribution.

    Obviously the longer they wait to pay the better.
     
  3. Victoria S

    Victoria S Well-Known Member

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    The general rule is 12 months provided there are no issues, however it is just a guide.
     
  4. john3125

    john3125 Active Member

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    I understand that it can take up to 12 months but we are close to 18 months. There was a part 4 claim, and it was settled in May this year.

    The executor has organized financial to buy out the beneficiaries and has been approved.

    The solicitor is now saying she is waiting for the bank to chose a settlemnt date. Finance was approved in June.
     
  5. Tim W

    Tim W Lawyer

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    Whose solicitor?
     

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