As the executor of a will, what are my obligations concerning Unsecured Debts? 6 Answers as of June 10, 2011

As the executor of a will, what are my obligations concerning Unsecured Debts?

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Burnham & Associates
Burnham & Associates | Stephanie K. Burnham
You are obligated to determine who the Creditors are of the estate, allow them to make claims pursuant to the State Laws and then to satisfy those claims with the assets of the estate pursuant to the State Laws where you are probating the estate. You are not required to pay for the debts out of your own personal funds.
Answer Applies to: New Hampshire
Replied: 6/10/2011
The Coyle Law Office
The Coyle Law Office | T. Andrew Coyle
As the executor it is your job to pay or settle all of the decedent's debts with available estate assets. So, you are under no obligation to use your own money to pay the decedent's debts. If the debt is unsecured, and if there are estate funds available, you can either just pay the debt (and be sure to have proof of payment) or call the creditor and ask if you can settle for a lower amount as the debtor is now deceased.
Answer Applies to: Illinois
Replied: 6/9/2011
Komanapalli Massey LLP
Komanapalli Massey LLP | Mark A. Massey, Esq.
All debts, secured and unsecured, must be paid from the estate. The executor of the estate is only responsible for distributing the estate, but has no personal responsibility to any of the deceased's creditors.
Answer Applies to: California
Replied: 6/9/2011
Law Office of Jackie Robert Geller
Law Office of Jackie Robert Geller | Jackie Robert Geller
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.
Answer Applies to: California
Replied: 6/8/2011
Law Offices of Brian Chew
Law Offices of Brian Chew | Brian Chew
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.
Answer Applies to: California
Replied: 6/8/2011
    Ashman Law Office
    Ashman Law Office | 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.
    Answer Applies to: Georgia
    Replied: 6/8/2011
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