Managing Creditors In Florida Probates
The Warnock Law Group has a comprehensive understanding of probate laws. We use that knowledge to efficiently conduct the probate administration process and to minimize debts that are subject to creditor claims. Under Florida law, the creditors of an estate may have claims against its assets. If the claims are valid and the estate is in probate, the creditor claims must be paid before any estate assets are paid to the estate’s beneficiaries. If the decedent had large debts, the beneficiaries may receive little or none of the estate’s assets.
How We Can Help
One of the duties of the personal representative (executor) of an estate is to file a notice of the probate proceeding to all known or reasonably ascertainable creditors of the estate. Those creditors then have three months to file a claim with the court. As part of our probate administration services, we will:
- File the required notice to creditors
- Field all inquiries from the estate’s creditors
- Make a determination about the legitimacy of the debts
- Work diligently to minimize the amount of debts that must be paid from the estate’s assets
In some cases, a foreclosure defense action can overcome a mortgage claim against an estate. In a free consultation, a lawyer at our firm can review your situation and explain your options.
Avoiding Probate And Creditor Claims
A creditor to an estate only has a valid claim against the assets that are subject to probate. Any estate assets held outside of probate are generally not subject to a creditor claim. Our firm can help you avoid probate and subsequent creditor claims. Let our estate planning attorneys put their knowledge and experience to work for you.