What is the time frame for distributing assets in an estate?
In Massachusetts, the timeframe for distributing assets in an estate is governed by the laws of succession. According to Chapter 190 of the Massachusetts General Laws, after all creditors have been paid and taxes have been settled, the remaining estate assets are divided among the deceased person’s heirs as designated in the will or, if there is no will, per the state law of intestate succession. There is a process of proving and approving the will, selecting a personal representative, settling debts and taxes, and arranging for asset distribution. Depending on the complexity of the estate, this process can generally be accomplished within a year, but may take longer. The personal representative of the estate has the primary responsibility of disbursing assets to the designated heirs. This is typically done in the order of priority established by the probate court. Generally, all property is divided within nine months after the death of the deceased, but certain assets may be distributed at different times as long as the timeframe is within four years of the date of death. After the assets have been distributed, a final accounting of all transactions must be filed with the probate court.
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