How long does an executors of a will have to settle the estate?

Asked over 3 years ago - Magnolia, NJ

My Grandmother passed away Sept 2006 she had stock she wanted left to me and my siblings my aunt who is exector of her estate didn't transfer these stocks to me until April 28,2011. When my grandmother died the stock was valued at $40.00 a share. Since than the stock has dropped to under $20 per share my intentions were to sell the stock now I will get 1/2 the amount for the shares is my aunt liable for the loss I will now take on the stock?

Attorney answers (3)

  1. Jason T Brown

    Pro

    Contributor Level 13

    Answered . Their may be a breach of fiduciary duty depending on the circumstances. You should speak with a competent professional to determine if this is a matter that is worth litigating. Questions they will ask is regarding the aggregate loss that the estate suffered and what options were presented and whether anyone placed any notice regarding the prospective sale of the security. We offer free, confidential consultations at (800) 9100-LAW. Best of luck to you.

    Please note by answering this question there is no attorney-client relationship formed. I am not your attorney.... more
  2. Edward Joseph Smeltzer II

    Contributor Level 14

    Answered . While there is no set time frame for the administration of an estate most can typically be settled in 12 to 24 months. Given that you are well beyond this tine frame you should probably consult with an attorney to determine you best next step. If I can be of assistance please contact me.

    Ed Smeltzer

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    Law Office of Edward J. Smeltzer II
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    LEGAL DISCLAIMER: This answer was prepared for educational purposes only. By using this site you understand and... more
  3. Steven J. Fromm

    Contributor Level 20

    Answered . This is a very tough question to answer. The exeuctrix has a fiduciary duty to preserve the assets of the estate and to invest them prudently. This standard can be hard to apply when it comes to investments, especially in a very volatile stock market during the time frame in question. What you must prove is based on the totality of the financial and factual setting of this estate was she prudent in holding such securities or should she have sold them at a more opportune moment. The only way to determine this would be through an analysis of the actual estate assets, expenses, financial activities, etc. You need to retain an estates attorney to review the conduct of the executrix to determine whether there is an action for breach of fiduciary duty. The facts really matter here, so no one at this forum can give you a definitive answer.

    Hope this helps. If you think this post was helpful, please check the thumbs up (helpful) tab below and/or designate my answer as best answer. Thanks.
    Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is sjfpc@comcast.net , his website is www.sjfpc.com. and his blog is

    LEGAL DISCLAIMER Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia... more

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