If you are thinking of setting the timing like what you need to do with vehicles that actually have distributors, you CAN'T. The Lincoln LS has no distributor.
If you are talking about the timing chain then that involves a LONG process. The job is about a 12-14 hour job (flat rate time for mechanics)
The 2001 V8 has two timing chains. One for each bank. See pix below.
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Timing chains are designed to last the life of the engine and are replaced when the engine is rebuilt.
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The bolt pattern on 2001 Lincoln ls is 107.9 mm
timing CHAINS
On a Lincoln LS : Both the 3.0 litre V6 engine and the 3.9 litre V8 engine have timing CHAINS
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The 3.0 litre V6 engine in a Lincoln LS has ( 1 ) timing CHAIN to each cylinder head , so there are ( 2 ) timing CHAINS
If the timing chain on your Lincoln LS is worn out then it should be replaced. A worn out timing chain can jump a link, or more, and the engine will ultimately not be able to run. Normally the timing chain will last the life of the engine.