HellBill » Hell Bill Area: » Pay Bill/ Pay Bills » If a deceased persons debts are more than the estate who gets paid first & what proof do other creditors need

Reply
  #1 (permalink)
: My mom passed away owing money but her estate is only $1300.00. She owes 3 times that amount. Do I have to notify each company she owes? Or do I put an notice to creditors ad in the paper? How do I decide which bills get paid and what do I need to give the creditors as proof there isn't enough money. Its a small estate and I can't afford a lawyer. Thank you.
Thank you for your answers. She didn't own any property or vehicles. The only reason she had money in her bank account was because it was her last CPP and OAS cheque. THey are a month behind in payments so she gets to keep the final month. I'm located in Ontario, Canada. Do I need to go to probate? I was hoping to handle it myself.

  Reply With Quote
  #2 (permalink)
: You notify everyone. You present the claims to the probate court and they generally split the funds among the creditors based on a percentage. In the paper is a local thing.
  Reply With Quote
more..
  #3 (permalink)
: You need to advise her creditors of her passing. They will most likely ask for a copy of her death certificate. Typically lien holders will be the first if their are any. If she was a single person than her children do not incur her debt.
If she has a car loan notify them as well. If their is a balance owed they will pick up the car as a matter of contract.
Start there and they should lead you in the right direction. The funeral home that held the services will have a copy of the death certificate if you don't.

Sorry about her passing.
  Reply With Quote
  #4 (permalink)
: the notice will depend on what state or nation you are in. It will also depend on whether you are appointed as administrator of the estate. In general, in my state, the nature is the estate will determine whether you need the assistance of the probate court. The nature of the debt determines who gets notice and how. Creditors make a claim against the estate and in most places the probate court will divy up the money proportionately, but in some places it will be first come, first served.
  Reply With Quote

Reply

Bookmarks

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
If house / car in estate is paid out of estate funds, can other creditors sue estate to still sell house/car Daultitty Bill Collectors 1490 08-08-2013 11:52 AM
are medical bills of the deceased ,mother,paid from estate, if children have been already been paid the estate Undinaift Pay Bill/ Pay Bills 2 04-19-2013 11:01 PM
What happens to an estate (U.S.) of a decedent if the debts are more than the value of the estate queuefors Bill Of Rights 5 12-12-2012 11:05 PM
who pays deceased debts with no assets left in estate Zewreozy Pay Bill/ Pay Bills 2 04-13-2012 02:05 PM
Responsible party for a deceased persons bill wolfkate69 Bill/ Bills 2 03-21-2012 08:05 AM

Member Login

User Name:

Password:

Remember Me?
Copyright 2014, HellBill.com. All Rights Reserved