[pennyp]

Once you sell estate of deceased parent and pay off all the debit, do you still have to hold money in an account for any period

[excon]

Hello p:

You should NOT sell a deceased persons home until the estate has been probated and YOU are designated the executor or the heir. Probate will also take care of any debts the deceased had, so once probate happens and you are authorized to sell the property, you can do anything you want with the money.

excon

[AK lawyer]

Sort of what excon said, except that in probate you are required to publish notice to any creditors who may be lurking in the woodwork. Only after a certain amount of time has elapsed from such publication, can the proceeds be distributed to the heirs or devisees.