Colors of the Rainbow and Their Meanings. The rainbow is a beautiful natural phenomenon; knowing the significance of each of the colors of the rainbow makes it even more beautiful. While Nature or God has created this glorious natural phenomenon; philosophers have given a meaning to its colors.
Minimum Length of Time. Keep the records and papers for any settled estate for at least seven years, if an estate tax return was filed. That is the Internal Revenue Service recommendation for any financial transactions. Under IRS rules, that is the end of the statute of limitations for any kind of auditing.
The estate must remain open for at least six (6) months from the date of executor's appointment to allow creditors to present claims. If all claims have been paid, the estate may be closed and final account filed after six months.ven if there are no assets, if a will exists for the deceased person, the person named in the will as executor, or the person holding the original will, must file the will, any codicils and a certified death certificate with the Probate Court within thirty (30) days of the date of death.