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That is one of the responsibilities of the Executor. They need to propose a solution to the probate court. In some cases the property must be sold and the liens settled. If the judge accepts it, the creditors will also have to accept it. The simplest way is to take the total dollars in the estate and divide it by the total debts owed. Then pay that much per dollar owed to each debtor.
What else can I help you with?
Can you sue a dead mans estate?
Yes, you can sue a deceased person's estate through a legal process known as probate. In such cases, the executor of the deceased's estate would handle any legal claims against the estate. It is important to consult with a lawyer to understand the specific procedures and requirements for pursuing a legal claim against a deceased person's estate.
In Colorado how do you handle deceased relatives estate if no will?
eat them
How do you sue the estate of a deceased person?
To sue the estate of a deceased person, you typically need to file a claim in probate court against the estate. The court will appoint an executor or administrator to handle the estate's affairs, including the lawsuit. Make sure to follow the legal procedures and deadlines set by the court.
How does probate handle the sale of a home?
If the person who owned the home is now deceased, that person's estate must be probated before the home can be sold. Probate is what authorizes someone representing the estate of the deceased person to sell the home.
Can you bring a law suit against an estate?
Yes, you can bring a lawsuit against an estate if there are legal grounds to do so, such as outstanding debts owed by the deceased. The executor or personal representative of the estate would typically handle any legal matters on behalf of the estate. It is advisable to seek legal assistance to navigate the process effectively.
What can you do if a bill from your deceased husband has been sent to collections with your name on it and there is no estate?
Unless you are on the bill the company is not entitled to payment from you. The estate of your husband should handle this. If there are no monies in the estate you dont pay them for something you didnt take on.
How do you handle credit card debt of deceased husband in NJ?
The important step is to open an estate. The executor of the estate will deal with the debts and assets. If the debts are joint responsibility, they won't go away.
How do you sell a car from a deceased relative?
An action like that must be handled by the estate. If the deceased has left a will and named an executor, the executor must handle the disposal of any property. If no will was left, the courts will determine what happens to the property.
How do you sue an estate of a deceased person with no will?
To sue the estate of a deceased person with no will, you would typically need to file a claim in the probate court where the person lived. The court will appoint an executor or administrator to handle the estate and the lawsuit. It's advisable to consult with a probate attorney to guide you through the process.
What does an administrator of a deceased person do?
An administrator of a deceased person's estate is responsible for managing and distributing the deceased's assets according to the law and their will, if one exists. This includes gathering and valuing the estate's assets, paying off any debts and taxes, and ensuring that the remaining assets are distributed to the rightful heirs or beneficiaries. The administrator may also need to handle legal paperwork and represent the estate in court if necessary. Essentially, they act as a fiduciary, ensuring the estate is settled in an orderly and lawful manner.
How can someone become an executor of an estate in the absence of a will?
To become an executor of an estate without a will, a person can petition the court to be appointed as the administrator of the estate. The court will typically consider the person's relationship to the deceased, their ability to handle the responsibilities of the role, and any objections from other interested parties.
How do you obtain letters testamentary when the deceased had no will in Oklahoma?
You would need to file a petition with the court for letters of administration. The court will appoint someone to administer the estate, typically a close family member or next of kin. The administrator will then have the legal authority to handle the deceased's estate according to Oklahoma intestacy laws.
