Articles Posted in creditor

People often create revocable living trusts in Florida to avoid probate. And some of those people actually transfer assets into the trust to fund it. And it’s true that the trust’s assets are not assets of the probate estate when the person dies. But probate is still required for another reason: clearing possible claims of…

When someone dies in Florida, many families are anxious to pay the creditors. Most people want to pay their debts so it’s a natural thing to want to pay the decedent’s debts as soon as someone is appointed as personal representative to sign on the decedent’s bank accounts. But there’s a hidden problem that Florida…

The Florida Probate Code generally requires that creditors file claims with the probate court within just three months after notice to creditors is published by the personal representative of the decedent’s estate. If the claim is not properly filed on time, then the personal representative is generally not required to pay the creditor. Of course,…

The NY Times reported (You’re Dead? That Won’t Stop the Debt Collector) on 3/3/09 how a certain debt collector collects from grieving families the debts owed by the deceased even though the family members are not legally obligated to pay. I don’t know about other states, but debt collectors should think twice before calling a…