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Ask Deborah Awyzio Your Own Question
Deborah Awyzio
Deborah Awyzio, Solicitor
Category: Australia Law
Satisfied Customers: 863
Experience:  Bachelor of Laws (QUT), BIT (QUT), Family Law Accredited Specialist, over 12 years experience
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Is there a time limit on when the executors can distribute

Customer Question

Is there a time limit on when the executors can distribute assets according to the will? Probate was granted last November 2015.
JA: What state are you in? It matters because laws vary by location. Has anything been filed or reported?
Customer: I am in NSW. Not sure what you mean by filed or reported.My other question is: can the executors decide instead of making a distribution of residual to the beneficiariesthat this be deposited into a trust account. The amount is approx $116,000.00. We had a 'meeting' where we were asked did we as beneficiaries agree to this. I disagreed as I said it wasnt what my father wanted or what was granted probate upon. I am still waiting for the transfer of shares in family business as well. My brother is the managing director and an executor.
JA: Anything else you want the lawyer to know before I connect you?
Customer: The other thing re family business was that Dad was the Governing Director (1936 Companies Act) and according to the Articles. Mr brother produced at tis same meeting a supposed letter authorising my brother as governing director - supposedly dated 20 years ago. No one knew about this nor has it been sstated before. In fact I asked my Dad on a few occasions aboutthe business. Only problem is the articles state there can ony be one GD and for my brother to be made GD Dad would have had to resign -therefore not giving my brother this position. Thank you for any help. Not sure where to go to.
Submitted: 9 months ago.
Category: Australia Law
Expert:  Leon replied 9 months ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  Leon replied 9 months ago.

Usually they will distribute once all assets have been collected then they can finalise the estate.

A time of 12 months is not unreasonable.

They can hold onto the money only if the will allows them to do so. If it does not then they are entitled and they can demand it. If he refuses then they can challenge him in court and seek costs.

In relation to the company if you brother was a director before the passing he continues. But if not he cannot be unless the will allows it.

Can you email me the will so I can have a look.***@******.***

Customer: replied 9 months ago.
Will do as soon as I 'get my unwanted visitors' to leave. Thanks. It is a very complicated will written by the soliticitor who is acting for the executors but unfortunately I think he is in retirement mode from his home not from his office.
Expert:  Leon replied 9 months ago.

Good Morning

I will look at it when I get it.