The Unexpected Effects of Family Structure and Wealth on Estate Settlement Timelines: A National Examination Using The Health and Retirement Study Exit Files

Estate administration involves collecting a decedent's assets, settling debts, and distributing the remainder. Few studies have analyzed how family structure and wealth influence the time required to complete these tasks. Drawing on Health and Retirement Study Exit Interviews across twenty years, this paper examines "time to settle an estate" (TSE) for all estates (n=5,141) and "time to probate an estate" (TPE) for testate estates (n=2,704). On average, settlement takes about 18 months, with probate extending closer to 19 months. Unexpectedly, having a stepfamily or a larger estate size result in a shorter timeline, suggesting that these decedents may pursue more proactive planning. However, homeownership consistently prolongs distribution. These findings highlight the nuanced roles of family complexity and financial resources, countering assumptions that stepfamilies necessarily face longer delays. Financial planners, attorneys, and policymakers can use these insights to refine estate planning strategies and regulatory frameworks, ensuring they address diverse household needs and better accommodate today's evolving family structures.