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Normally what this means is that the executor can deliver either cash or the bonds to make up your portion of the inheritance in their discretion. So your 1/3 might be in cash, or might be in bonds... But that doesn't affect when the assets can be disbursed.
Under PA law, once the probate case is filed and the estate opened, there is a one year "creditor claims" period for any creditor, known or unknown, to file a claim against the estate. So a prudent executor won't distribute anything prior to that year expiring so they aren't potentially held personally liable.. So it will likely be a little over a year before any assets are distributed to the heirs..