[WSBAPT] small estates/creditors

[Krista MacLaren]

Hello Friday Afternooners,

I am wondering how people have handled creditors in instances of a small
estate.  I have a client whose mother died leaving $30,000 in a bank
account and about $70,000 of debt, as well as two retirement accounts
payable to the son.  I believe the retirement accounts are not subject to
the creditors, and no probate is needed, but I am not certain how to
allocate the $30,000.  I am thinking we could open a probate just for the
creditor claim process (seems a bit excessive), or we could let the money
sit for two years and see if anyone comes forward.  We could contact all
the creditors, let them know that there isn’t enough money for everyone
and ask them to write off some of the debt.  Is there a “right” way to
handle this?  My client wants to do the right thing, but not go overboard.
The debts are mostly medical expenses and credit cards.

thank you for your suggestions!

Krista MacLaren
Attorney at Law
Northgate Executive Center II
9725 3rd Ave NE, Suite 600
Seattle WA 98115
(206) 523-6116

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