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No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
There is no time limit to settle an estate. It can be very complicated and take many years to resolve and settle.
it was that if the creditor had not tried to collect within 7 years it was expired
The time limit to collect an unpaid bill depends on the kind of the bill it is and what state you are in. In most cases the bill can be collected forever, but you cannot pursue legal action beyond 7 years.
There isn't a limit. For a complete answer please visit www.OntrackFinancialGroup.com Ontrack Financial Group llc 888-686-6834
Yes, after the estate has been probated, the time has expired.
no there is no limit
The estate has to file a tax return each year. The taxes are due before the estate can be closed.
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
No, there is no limit to settle an estate. It can take many years for a complex estate.
Yes. The period varies in every state. You need to check the laws of your state to determine the length of time provided to creditors in your jurisdiction.
A lien can be applied to his estate, and in some states, against the estates of the paternal grandparents to limit the distribution of the obligors share of the estate.
Assuming a Chapter 7 in which a secured debt is not being reaffirmed, the debtor should act promptly to transfer the asset to the creditor.Other, non-exempt, assets are collected and sold by the trustee, not the creditors, and the trustee then takes his fee and distributes whatever may be left pro rata to the unsecured creditors.
There is no specified time limit to settle an estate. They can be very complex and take many years to resolve and settle.
There is no upper limit. A complex estate can take decades to close out.
No limit
There is no time limit to settle an estate. It can be very complicated and take many years to resolve and settle.