When beneficiaries named in an estate know they will receive part of the decedent’s property, they get anxious. In most common estates, beneficiaries are unaware that there are factors involved when distributing the decedent’s property. The following factors determine the length of time it will take the executor to distribute property:

• Executor responsibility – The priority for any executor is to pay the expenses and the taxes of the estate. Also, the executor must provide the probate court with an Inventory of Assets as depicted in the article Understand the Task in Front of You. The inventory must include the values of all property owned by the decedent, including assets with designated beneficiaries. The inventory will then determine if the gross value of the estate meets the threshold for filing estate taxes.

• How the beneficiaries are to receive property – The beneficiaries, named in a will, can receive property through the will. Also, beneficiaries can receive property directly from the decedent’s assets as a designated beneficiary.

• Estate Law is state specific – Estate law is different in most states. Therefore, how long it takes to administer an estate will depend on the location of the estate and the estate laws of that specific state.

So, the beneficiaries need to know that the location of the estate and how they receive property of the estate affects when the executor can distribute the decedent’s property.

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