5 Factors that Affect Asset Distribution Timeline
Nov 29 2023 0

5 Factors that Affect Asset Distribution Timeline

It can be very emotional and even traumatic to lose a loved one. It is not uncommon to want all of the red tape to be handled swiftly so that as a beneficiary, you may obtain what is rightfully yours from your loved one’s estate and so you can start the process of coping with your grief and moving on from your loss. However, the process of coming to that end could be muddled with many factors that can impact how long it can take to get everything resolved.

What Can Prolong Asset Distribution after the Passing of a Loved One?

5 Factors that Affect Asset Distribution TimelineIdeally, there would be no disputes, tax implications, or other hurdles that would delay the asset distribution of one’s estate to its intended beneficiaries. But, problems along the way can happen and when they do, it can take more time for an estate to be officially closed and for beneficiaries to obtain what they were promised.

There are many things that can happen during the administration of one’s estate that can affect how long it will take before assets are put in hands. Some of these are:

  1. Disagreements can arise amongst beneficiaries and potentially, outsiders that will have to be worked out before assets are distributed. Sometimes, disputes are frivolous, and they unnecessarily add to the time and cost of closing one’s estate. But, in other situations, disagreements are not only valid but necessary to make sure that the true wishes of the decedent materialize. 
    1. If you have a question about how to handle a will dispute in California, you are welcome to reach out to an experienced Los Angeles will contest & probate attorney at the Leiva Law Firm.
  2. Creditors can make claims against an estate that must be addressed before any assets are taken out of an estate and given to beneficiaries.
  3. Estate taxes are another consideration that must be dealt with before asset distribution takes place.
  4. Potentially, certain real estate is being sold or liquidated that was held in one’s estate. This can add additional wrinkles to the process making it a bit more complex and time-consuming.
  5. Certain assets may be so complex that they require specialized attention which will mean more time will be added to the asset distribution timeline. Examples would be the handling of intellectual property or determining how to manage a business that was owned by the decedent.

There are several issues that can arise after one passes that cause delays and problems for beneficiaries. When this happens, it can be a very stressful time for beneficiaries. 

It is important to understand that anything can arise during the estate administration process. And, if you have questions or believe that something is amiss, then it can be advantageous to speak with an attorney.

Speak to an Attorney at the Leiva Law

For help with a will contest or with probate in California after the loss of a loved one, you can count on and trust the experienced guidance of the California civil litigation attorney at the Leiva Law Firm. For a free consultation where you can discuss your case further with an attorney, please call (818) 519-4465. Initial consultations are complimentary. 

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