This time next week, the claims period regarding my grandmother's estate will end. It started back in early August.
After that, will my mom be able to start getting things taken care of regarding my grandmother's bank accounts and stocks or is there at least one additional step that needs to be taken before she can tend to the accounts?
My mom is the lone beneficiary btw, so the estate obviously won't be contested in any way. I'm hoping it can be a relatively quick process after next week's window closes.
The claims period is what debtors are given to get their bills/invoices in. It does not mean that Probated closes at that time. If debts still need to be paid out that has to be done. If the Will says a house needs to be sold, that has to be done. If there is a codicil attached leaving someone a piece of jewelry, that has to be done. You have to show probate that you have done everything they asked you to do has been done, like tax ID filings. In my State Probate cannot be closed for 8 months.
Not sure if Mom will need an accounting since the only beneficiary. If she has done Probate on her own then she needs to see the Probate Clerk to see if anything else is needed. If she has a lawyer, then he should be able to tell her when probate closes. Every State has different regulations. So we really can't give you solid answers.
In my state, probate is usually 6-9 months.
I am saying that there are things that need to be done and for me, for these questions, it is invaluable to have an attorney. In fact just to get the EIN number it saved me so much time and angst. If you do that online via the IRS site one wrong answer can make a mess and writing or speaking with the IRS is 3 months wait for an answer. Can delay things badly.
I would get a trust and estate attorney. My total bill for hours of time was not much at all, and that was just to check out a few questions and get a little guidance.
Wouldn't want to guess what all is going to go on for your mom but I guarantee one thing, if there are stock or investments out there????? Then they are going to drive her to madness. They want everything and then her firstborn. Is that YOU?
Good luck. I really wish I could answer, but each case where probate is concerned is so individual. I would just want that attorney in my corner.