FAQ: Payments and Taxes

How are creditors against an estate handled? ⨀

Do beneficiaries and executors have to pay creditors out-of-own pocket if the estate is insolvent? ⨀

How are taxes handled in probate? ⨀

How does an executor know which creditors to pay? ⨀

When must creditors be paid? ⨀

What is the difference between a formal and informal claim by a creditor? ⨀

IMPORTANT NOTE: Please be aware that the information on this page is delivered without warranty or guarantee of accuracy. It's provided to hekp you learn more and formulate specific questions to discuss with your attorney and/or your Real Estate Professional and/or to help a personal representative, executor or executrix when executing their challenging responsibilities. By accessing this page, you acknowledge that it has been provided for information only and that you are hereby advised that any decisions regarding probate issues should be discussed with an attorney and/or a Real Estate Professional.