Some people’s estates are insolvent when they die. This means that the estate owes more in bills and debts than there are assets of the estate. If a person dies with $20,000 in the bank, but owes $50,000 in medical…
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After the claim is presented, the executor investigates the validity of the debt or claim. If it is valid, then it is paid. If the executor denies the claim, then the creditor must file a law suit against the…
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The executor or administrator must pay the debts of the decedent. However, the debts may not be known. Thus, creditors must send written notice to the executor/administrator of the claim. The executor can then determine the validity of the…
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