Probate Process: How the Creditors Get Paid

One of the most important parts of the probate process is making sure that the creditors of the estate get paid. If the individual passes away without having a will, an administrator is going to be appointed by the court to handle this process. If there was a will, an executor will have been chosen by the deceased to represent their estate. 

Notice

The executor or administrator is going to post an official notice in the newspaper for the benefit of creditors. The notice will say that this individual died and creditors need to make any claims before a certain date.

Paying the Bills

The next part of the process involves actually paying the bills. Most of the time, the executor or administrator will transfer all of the monetary assets into an estate checking account. They will gather up all of the bills and claims and evaluate which ones are still current. At that point, the executor or administrator is going to physically write a check for each of the creditors. They will then be charged with the responsibility of sending each of these payments to the creditors.

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