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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Family Law
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Experience:  Experienced attorney: Family law, Estate Law, SS Law etc.
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For state of Louisiana My mother passed away approx. 1 1/2

Resolved Question:

For state of Louisiana: My mother passed away approx. 1 1/2 months ago. She had a will stating to split all assets equally among us 5 children. Her liquid cash assets and annuity in bank is $76,000. My sister is executor and had a meeting last week with her and presented death certificate and reviewed all assets and details. She also has a home paid for that we had appraised at $230,000. Our attorney said that the liquid assets (cash and annuity in bank) cannot be divided until home is sold. We expect the judge to sign off on probate and succession of will in about 10 more days. My question is, do we have to wait until the home sells before we can distribute the cash funds among ourselves? That does not sound correct, but please advise me if it is.
Thank You
Submitted: 5 years ago.
Category: Family Law
Expert:  Law Educator, Esq. replied 5 years ago.
The attorney is correct that the succession must be completed before any distributions can be made because all debts and taxes of the estate must be paid before any distributions are made from the estate. Because it is not known what expenses will be incurred with the house, the attorney cannot allow anything to be taken from the estate until the home is disposed of.

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