How long does the executor have to liquidate assets of an estate and distribute funds

What is the name of your state (only U.S. law)? California

My grandmother passed away and my unstable bipolar aunt is the executor. The executor is talking about renting the properties out (1single family house, and 1 duplex) instead of liquidating them. Combined these two properties are worth about $700,000. What are my rights as a beneficiary in the trust if I want my share in cash and the executor doesn't want to liquidate assets yet? How much time does the law (California) give her to drag her feet?

I believe the executor must petition for final distribution or explain why the estate is not ready to be finalized in a year after the letters are issued if no federal estate return is required or 18 months after if there is one required.

The courts don't generally like explanations (Technically, reports of status of administration.) without good reasons and will often order a final distribution unless the remaining open is in the best interests of the estate or interested persons.

However, if you really, really want cash, you should get an attorney now and try to motion for partition within the estate. It will cost more as a completely separate suit and the estate is not required to turn the property into cash, just distribute it. (Which can be done through titling properly.)

Are these properties in the "trust" that you mention? Is this "unstable bipolar aunt" the trustee of the trust? Are all of grandmother's assets in this "trust"?

Curb1 asks good questions. I assumed an estate and not a trust.

tranquility said:

Curb1 asks good questions. I assumed an estate and not a trust.

Click to expand...

It takes awhile for some lessons to sink in.

A trustee administers a trust - not an executor.

Click to expand...

https://forum.freeadvice.com/wills-trusts-estate-planning-113/how-soon-can-executor-distribute-funds-trust-california-532729.html

A week ago it was too soon and now it's too long?

And, people wonder why probate is expensive and even trusts are difficult.

Rule #1, you have no heirs until you're dead.

Rule #2, don't get between a person and free money.

You state the assets are now in a trust. What does the language of the trust document indicate, as to when any assets may or may not be distributed?

These assets and investments may sit invested for 5, 10, 20 or more YEARS, depending upon what the trust was intended to do.