What debts is an estate liable for?

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What debts is an estate liable for?

My common law husband died and left a handwritten Will that explained all his assets and debts 3 years ago. He left everything (not a lot) to me. It went through probate. In it he wrote that he owed his friend $25,000; it was a loan to keep his small ownership in a restaurant. The restaurant just sold and I’m about to receive exactly $25,000. His friend has contacted me and wants this money. I am in desperate need of it. What legal right does he have to get this money? The Will does state this loan but am I required to pay it back?

Asked on August 25, 2014 under Estate Planning, Colorado

Answers:

Maury Beaulier / MinnesotaLawyers.com

Answered 6 years ago | Contributor

It would appear thathe debt has been memorilaized in writuing by the decedent and is acknowledged by the friend.  the estate would most likely be responsible for the debt.  It should be reviewed by a probate lawyer. 


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