Wednesday, November 9, 2011

When can moneys be released to heirs in a NY State small estate?

I am executor of my father's small estate (under $30,000). After paying all the medical bills, there is only about $3,000 to be split among 3 siblings. Father died in March, lawyer published notice to debtors on June 1 and said we have to wait 7 months to distribute money. As Christmas is coming, we would all like our money December 1. We are sure there are no more outstanding bills. Can I distribute a partial payment to my siblings so we all will get $500 now and the rest after Jan. 1?

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