Inheritance question?

Question

April 10th of this year I received my great grandmothers will papers in the mail.
I read that I am going to be receiving a small inheritance of $5,000.

Ive never been willed anything before, so I dont really know what Im suppose too do.

In the papers it said something about creditors only having 4 months to collect debt. Starting from the date marked on the papers from her lawyer. (april 10)

I dont understand any of this. : (

anyways,
My family is not trusting. Im worried that they will interfere or simple just not give me my inheritance. I cant contact them either for information.

as of September 10th it will be 4 months.

what am I supposed to expect? How long could it take?

and how will I receive it?


I am clueless about all of this. :(

so I would appreciate any helpful advice

Her executer is her son (and i dont know how to contact him), and I cant contact the lawyer with out being charged a fee.

its already been 4 or 5 months and from what i understand, she does have property too sell.


Is there any chance at all, that i could receive it this month?

Answer 1

Assuming that there is enough money in your grandmother's estate after any debts she had are paid, eventually you should get a check for the $5000. How long that will take is hard to tell. If her assets were in cash, it would probably be within the next several months, but if she owned property that has to be sold, it could take longer if it takes awhile to sell the property.

Answer 2

from a person who has been unfortunatly invovled in more then 1 will let me say it is a big pain in the a--.
if she named u in her will to recieve $5000 then you will recieve it. u will be asked to sign a paper that u recieved it bcuz that has to be shown in probate court to proove that all her wishes have been met b4 probate can be closed.
generally a inheritence is already there in the form of cash (like she had a savings account or insurance) someone can make a claim against her estate (like a creditor) did your gg own a home? One of the biggest reasons one has a will is bcuz they can pick where things and their money goes. i can give you an example that my uncle died and i was exec of the estate and while he had a mother, sister, and lots of nieces and nephews he left a will where he left most everything to my son (he was 9 at the time) he left items to others and it was my job to contact them and get them these items and have them sign that paper that they recieved it. it was a mess and there were lots of hard feelings. so much so that i was willing to split the money between all the kids. then i found out that legally i could not do that. i had to do as he said in the will. PERIOD. bcuz my son was a minor i had to show proof that the money was in a trust and i was the guardian. then i had to file with probate every year an accounting of the trust. from my understanding nobody can touch anything that is named in their will. the person who sent u the notice that u were named in the will and will recieve this money is the person u need to talk to. they sent u this info cuz that is their job and they are getting paid from the estate. u will not be charged. i am surprised that whoever sent it didn't let u know that u were welcome to call them with any questions. Are you an adult? if u are a minor or the will said u are to get this money at a certain age then that is when u will get it. if it said to give u money if there is any left after the estate is settled there again u would have to wait and see. if she bequested you $5000 and you have reached the age of majority then u probaly should have gotten it already. sometimes relatives (if they are the execuiter and you are not on friendly terms will hold out as long as possible to be mean) they can wait until the last minute. but they need your signature that u recieved what u were left b4 they can close probate. probate can take 1 to 3 years. Call the attorney who is repersenting the estate. NO they can't charge u, but they will bill the estate so try to deal with the person who sent u this notice of an inheritence first and b4 you have that spent don't 4 get about taxes.

Answer 3

My condolences to you and your family on the loss of your great-grandmother. Grandparents are very special.

When a person dies, their property has to go through probate court before anything can be legally done with the estate. Since your great-grandmother had a will, the court will see to it that you get your inheritance, IF there is anything left after the debts of the estate are settled. The executor of the estate has to present to the judge, in court, documents satisfying the stipulations of the will or showing clearly why these stipulations cannot be satisfied. The judge will step in if there is money left to be distributed to heirs that has not been distributed.

If you do receive money from her estate, you will need to set a portion of it aside for inheritance tax. You should receive some information about this tax when you receive your inheritance check... again... IF there is anything left of the estate after the debts are paid.

If I were in your shoes, I'd make a couple of copies of the check when it comes in, and keep them for my own records. You may or may not get a tax statement (Form 1099) from the estate at tax time, so a copy of the check will be sufficient for you to get your taxes done, or anything else you may need to get accomplished.

I do hope everything goes through just fine. It's bad enough to lose a family member, without a big financial mess to sort through on top of it.

Answer 4

Contact the lawyer or the executor of her estate (they could be the same person). If there is money left after creditors are paid, then you may get all the inheritance or may only get a portion of it. Your family, unless one of them is an executor and there are stipulations for your eligibility in the will, cannot change the outcome.

Answer 5

four months from april 10 is august 10

Answer 6

just quit counting your chickens before they hatch and hope she had enough money to pass around after the debts were cleared up -- you sound like a buzzard circling it last meal!!!