I know - I’m not your client, you’re not my lawyer, yadda yadda.
My mother died about ten days ago. I’m co-executor of her will along with my step-father. On Friday we met with the lawyer who drafted her will. He said that by law we’re required to cash in her IRA an CDs immediately, regardless of the state of the market and place the cash in a new escrow-type account until all debts are paid (not many). The value of the IRA has gone down about $30K in the last couple weeks. Her beneficiaries (me and my sibs) would prefer to wait to see if the market regains much before we cash out everything, and the CD has a couple months before maturing.
Are we required to liquidate everything immediately? I’m in Tennessee, if that makes a difference. If the consensus is that we aren’t, can we hire someone else to help us?