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Is there a time frame to settle an estate??

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mikedavis

Junior Member
My brother and i are co-executors of my mothers estate in New York State.

My brother wants to liquidate the estate by selling the real-estate at current market value... i don't think its a good time to sell. My brother says that we have a legal and tax obligation to sell everything.. Is this true? Does an estate have to be settled in a specific time period..What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
 


xylene

Senior Member
Multiple pieces of property... so this is not a small estate.

What does you and your brothers lawyer say? Hint hint, y'all should have one.
 

mikedavis

Junior Member
Two properties, value is approx 1M.

Currently we don't have separate lawyers, and i don't want to ask the current lawyer as this will telegraph my position.

That's why i'm asking in this forum. But i will retain lawyer when it is required.
 

tranquility

Senior Member
"Telegraph your position?"

You will not force anything unless there is a breach of fiduciary duties. If you sit on known rights, you may jeopardize having any say in how the court determines if there is a breach. In any litigation, there will be discovery, briefs and argument. All "positions" will be telegraphed long before there is a decision.
 

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