Thursday, February 12, 2015

After an individual dies, how long does it take for heirs to receive inheritance from a trust?

Question

After an individual dies, how long does it take for heirs to receive inheritance from a trust?



Answer

That depends on many factors: The terms of the trust; the nature of the assets (if they need to be sold, that can take time, particularly real estate these days); and the nature of any debts or liabilities. Final tax returns must be prepared. Notice for potential creditors must be given and a minimum of 4 months may be required. Sometimes trustees are able to make partial distributions where liabilities are limited.



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