Ways that the Probate Process Deals with Debt
The period immediately following the death of a loved one is frequently emotionally challenging. The last thing a surviving spouse or other heirs need to deal with is persistent or harassing calls from bill collectors due to the probate
process. If your loved one has creditors, however, these debts must be settled.
Furthermore, most creditors know that they have a limited time during which they can make a claim against the estate during the probate process. For this reason, they are usually quick to follow up once they receive notice that a debtor has passed away.
Debts and the Probate Process
If you are the personal representative (executor or administrator) of the estate, it’s important to understand that the estate must pay all creditors before it can make any distributions...