What to do if Im the executor of my father’s Will but bills are coming due and there is no money in his personal account to pay them?

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What to do if Im the executor of my father’s Will but bills are coming due and there is no money in his personal account to pay them?

How do I pay the bills (funeral expenses, insurance, mortgage, etc.) if the house hasn’t sold in time for the bank to foreclose on it? I am afraid that the property will not sell for enough to cover everything so I have been reluctant to contribute out of my personal account. If I do pay some of the bills out of my account to keep from going into foreclosure at what priority would I, as executor, get paid back when the estate sells – first or last?

Asked on February 22, 2013 under Estate Planning, Tennessee

Answers:

Victor Waid / Law Office of Victor Waid

Answered 8 years ago | Contributor

Are you  represented by a probate attorney? If so you should be asking him this question. If not, then hire a probate attorney to assist yoy, who can be paid out of ther estate, upon the sale of the house. Beside if the creditors were notified of the probate, and was noticed by publication, they have four months to file a creditor claim which you can accept or reject. You need legal counsel.


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