Probate actually means the process of proving a will, and that is usually done by presenting the Petition for Probate, along with the will (if it is a self-proving will, things go faster), and any subscribing witnesses.
**WHAT I THINK YOUR QUESTION IS** -- I think you really want to know how long estate administration would take. In a very simple estate with all assets going to one or two people, with no complex assets and no unusual debt structure, I would say probably about 9 months. For the average estate, I would say probably a minimum of a year.
Under §53-7-92, Creditors have up to three months after last advertisement of grant of letters testamentary or letters of administration to file a claim against the estate of a decedent.
Also note that it is the duty of the executor to file the decedent's final income tax returns. That could take close to a year before tax matters are worked out.
If an estate is open for a year or longer, the executor must make annual reports to the court showing his receipts and expenditures in behalf of the estate during the year preceding the anniversary date of qualification, together with a note or memorandum of any other fact necessary to the exhibition of the true condition of the estate. With this return, either the original vouchers shall be filed, showing the correctness of each item, or, in lieu thereof, the fiduciary making the return shall attach an affidavit stating that the original vouchers have been compared to each item on the return and that the return is correct; but the judge of the probate court shall require the original vouchers to be produced for good cause shown. §53-7-180.
Some larger or more complex estates having closely-held businesses, substantial real estate holdings, or other unique assets could take upwards of 4 or 5 years to administer.
2007-05-06 17:06:57
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answer #1
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answered by Mark 7
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