In short, the executor has a year in which to deal with the deceased’s estate. Beneficiaries are always keen to receive their legacies as quickly as possible, but the executor is not bound to distribute the estate before the expiry of one year from the date of passing. The executor’s year is meant to give ample time for all assets and liabilities to be properly identified and to ensure everything is in order before the estate is distributed to the beneficiaries. If the executor takes longer than a year to administer the estate the beneficiaries are entitled to interest on … Continue reading What is the executor’s year?
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