What do you do when an estate has no monies to pay bills with ?

Get Legal Help Today

 Secured with SHA-256 Encryption

What do you do when an estate has no monies to pay bills with ?

The deceased left ALL monies to her church thru beneficiary benefits. How do I settle the estate with no access to any funds to pay bills ?

Asked on March 4, 2019 under Estate Planning, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

You have to let the probate court know that the estate is insolvent: you'd provide an accounting to the court of the debts vs. the assets. The court can order that the estate be settled and probate closed out even without paying the debts, if there is no money to pay the creditors. Contact the clerk of the probate court for instructions. It is possible that the court will require a hearing on the subject and documentary evidence (e.g. of the deceased's bank account[s]) to satisfy itself as to the insolvency.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption