Wrapping up our blog series Dealing with Creditors in Probate: FAQs, below we will answer some final questions regarding creditors and probate.
A – In a few different cases, with the most common of these being:
Knowing these rules can be pivotal to not paying creditors who have failed to comply with them and, consequently, to preserving the assets of an estate for the beneficiaries.
A – When an estate may lack the cash to pay off all of the creditors in probate, it will typically be necessary to start liquidating some (or possibly all) of an estate’s assets to free up funds to resolve all of the estate’s legitimate outstanding debts. As part of this process, the specific assets of an estate will usually be appraised, and then these assets could end up being sold (at, for example, an auction) to obtain funds to pay any remaining creditors in probate.
This process in and of itself can be complicated, so it is best to have one of the trusted and experienced Denver probate lawyers at Phillips & Blow, PC on your side to ensure that your best interests, as well as the estate’s assets, are fully protected.
Do you need help dealing creditors in probate? If so, you can count on the Denver probate lawyers at Phillips & Blow, PC. We are committed to providing each of our clients with superior representation and the highest quality legal services, particularly when it comes to resolving probate.
Our goal is to help our clients efficiently navigate the complexities of probate law so they can develop effective, prudent solutions that will protect them, their assets and their families in the future.
We can discuss your estate planning needs and different options during our consultation. To schedule this meeting, call us at (303) 713-9147 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, Centennial, Wheat Ridge, Golden and Arvada.