Blog Posts - Estate administration
What if There is No Money to Pay Debts in the Estate?
After a person passes away, any outstanding debts will be paid out of the decedent’s estate. A hiccup occurs when sufficient funds do not exist. If this is the case, then certain debts may remain unpaid. However, the personal representative does retain the option of negotiating a payment plan with...
What are the Costs Associated with Probate?
Probate is the process by which a will is approved as a valid legal document in court. A number of bumps in the road can factor into probate, making the process of distributing assets to beneficiaries more expensive and time-consuming. If you are in the midst of probating a loved...
Why would you have to pay your parents’ debts after they die?
If your parents pass away with a lot of debt, you’re probably going to find out about it as you go through the estate. Perhaps you’ve even been named the estate executor. You may be concerned to see this debt, especially if you realize the estate can’t cover it. The...