When a named executor fails to probate a will in a timely manner, it can create serious legal and financial complications.
First, by neglecting to initiate probate, the executor may be deemed to have waived their right to serve, which could result in the court appointing an administrator instead.
Second, until a will is admitted to probate — or an estate is declared intestate — no one has the legal authority to manage the estate. This lack of oversight can lead to asset depreciation, lost value for beneficiaries, and delays in transferring property, since estate property cannot legally be transferred without probate. Failing to administer an estate can also lead to drastic adverse tax consequences.
Although there is technically no strict deadline for opening probate, waiting too long can significantly limit your options. For instance, while probate could theoretically be initiated decades after someone’s death, doing so may be impractical: Assets may be difficult to locate, and crucial documents, such as deeds, may no longer be accessible, making the process of transferring property much more complicated.
