Submitted by NathanV on Thu, 09/08/2011 - 08:33
I was appointed executor of my brother's estate four months ago and I'm still trying to get a handle on his mess of an estate. I believe he may own one other small property out of state and so I haven't filed an accounting yet. Now my other brother who, unfortunately, is still alive, is calling every day and complaining about how slow the probate process is going and threatening to take "action" if I don't get a move on. My question is how long do I have to file the accounting and if I go over that time what, exactly, can my brother do about it. Thank you for any help you can offer.
Filing inventory in MA probate
By law, the inventory should be filed within three months of your appointment as the executor or administrator. It is very common, however, for executors to take longer than that to file their initial inventor, especially in situations, like yours, where it takes some time to track down all of the deceased's assets. In cases where the executor misses the deadline any interested party, such as another named beneficiary, can file a motion asking the probate court to order that the inventory be produced. However, Massachusetts law does not currently provide for sanctions or fines for failing to file the inventory of assets in a timely manner. If the court orders you to produce the inventory, of course, you should, ASAP. For this and other issues related to the probate of an estate, especially with larger estates, it's often a good idea for the executor to hire a MA probate attorney for guidance through the process. Good luck.
How long does executor have to file Inventory
It takes some time to properly administer an estate in Massachusetts. As executor, you have an obligation to locate and protect the assets of the estate, pay the just debts of the estate, and make proper distributions. None of that happens overnight. And given the very high fiduciary obligation that you have to the beneficiaries, you do not want to rush through anything.
Technically, you have 90 days from your appointment to file your Inventory (the listing of all the assets that came into your control as executor). I say “technically” because more often than not, the Inventory is filed late. It does not have to be perfect as you can make adjustments for later-discovered asset on your first Account. Given the situation with your brother, I would just file the Inventory to reflect the known assets. And by the way, real estate located in another state would NOT be listed on the MA Inventory. That is a whole other saga.
So the Inventory is the starting point, and the Account is a report filed with the probate court that provides a very detailed analysis of your activity as executor. It might be convenient to think of the Account as an annual filing (although that is not strictly the case). In most Counties, you cannot even have your Account “allowed” until the one year anniversary of the date of death. Schedule A of the Account will start with the Inventory balance and reflect EVERY penny received by the estate (not just income - ALL receipts). Schedule B reflect every penny paid out of the estate. And Schedule C is the balance on hand (which should equal Schedule A less Schedule B). Your job as executor is somewhat perilous. You can have personal liability for improper distributions, or distributions which render the estate unable to pay just debts or taxes. So the most important thing for you to do is get your brother’s expectations under control. The courts are very protective of the process and want to give you the time to do the job correctly.
So based on the facts you provided, I would not worry about your brother. Tell him that creditors have one year from the date of death to come forward, you have tax returns to file, you have Accounts to file and have allowed by the court - and that you expect that you will be unable to make distributions for at least 14 months from the date of death. You have a lot to do, and nothing but personal liability for any missteps – so take it slow and get it right. By the way, you do have the ability to charge reasonable fees as executor of the estate. That may be something to keep in mind as the process rolls forward. If your brother is going to be difficult, you might want to keep track of your hours (and a description of your activities) so that you can justify your fees. Good luck.
Attorney Peter Bernardin
Update
For this and other questions dealing with probate in Massachusetts, readers should be aware that Massachusetts has adopted the Uniform Probate Code. Follow this link for an update on the new rules regarding the probate inventory.