Video Summary
What happens when you filed a claim against a probate estate? Well, once you file your claim, it has to be filed within three months of the date of the notice accreditors within 30 days of the date that you received the notice if it’s past the 30day period. And the personal representative by statute has an additional month after the three-month period expires before they’re obligated to start paying these claims. A lot of the payment of the claims depends on whether or not the estate is solvent and whether or not they’ve been able to collect the bank accounts, in order to be able to have the money to pay. The claims are not all created equally. There are expenses of the estate in claims, and there’s a priority of which expenses and claims get paid first. At the top of the list of expenses is the, the attorney fees for handling the probative of the estate and the executor’s fee and handling the estate. That’s the number one. Those get paid first. Secondly, it’s the funeral bill or reimburse whoever pays for the funeral bill as the next category of claims that get paid. The third one, are medical expenses and medical bills that were incurred in the last 60 days before the decedent passed away. Credit card bills and other bills are on down the list as far as the priority of payment, but if there’s sufficient money to pay all of this, the estate administration takes anywhere from six- nine months to a year, depending on the circumstances of the estate and the look and the liquidity. If you have any questions concerning this, give me a call at (727) 847-2288.