If I have a promissory note with my mother for $500 per month, how do I remain in compliance if probate is not initiated and there is no estate?

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If I have a promissory note with my mother for $500 per month, how do I remain in compliance if probate is not initiated and there is no estate?

Remaining balance on promissory note is approx $25k. Mother recently died. She resided out of state. I do not possess the Will but have been told I was disinherited. The possessor of the Will is balking at filing it and initiating probate, most likely because money owed to hospital and Medicaid will probably equate to more than any assets.

Asked on March 24, 2012 under Estate Planning, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I a so sorry for your loss.  And for the situation as it is.  This is a very difficult situation for a family but the estate has to be settled.  If there are any assets then the medical providers and medicaid will come after them.  It will be a difficult time but it is necessary to deal with it.  And if your promissory note is filed you will be involved with it as well.  Seek help from an attorney to write a letter to the person who has the WIll and ask for a copy (you would get one anyway) and then decide if  forcing the executor is the way to go.  In the meantime, ask the attorney about your opening an account for the benefit of the estate and to continue to deposit the funds. Good luck.


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