QUESTION
As the executor of a will, what are my obligations concerning Unsecured Debts?
Asked on Jun 07th, 2011 on Estate Planning - Georgia
More details to this question:
As the executor of a will, what are my obligations concerning Unsecured Debts?
3 ANSWERS
Bankruptcy & Debt Attorney serving San Diego, CA
Partner at
Jackie Robert Geller Attorney at Law
As executor, you have an obligation to be sure that all of the decedent's debts are paid before distributing assets to beneficiaries. Different states have different procedures regarding creditor's claims, so speak with a probate attorney in your area.
Answered on Jun 08th, 2011 at 11:33 AM
1 Award
As executor you job is the gather the assets of the estate, pay off the debts and the distribute whatever is left to the beneficiaries.
Answered on Jun 08th, 2011 at 10:57 AM
Glen Edward Ashman
Let me start by saying do NOT serve at all unless you have a lawyer. You will make costly mistakes. Creditors must be paid before heirs get a dime. The key is what to pay, and a lawyer may have suggestions to lower or minimize those payments.
Answered on Jun 08th, 2011 at 10:48 AM