[WSBAPT] Apparently insolvent estate

Mon Jul 27 15:51:48 PDT 2015

Thanks, Michael, Heather and Robert. I called DSHS and they are fine
with us proceeding without court intervention in order to keep costs
down. They often will compromise on the claim in order to allow the
heirs to receive something from the estate. I appreciate the practical
tips. Thanks!

Lovie

From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mike Winslow
Sent: Monday, July 27, 2015 3:27 PM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] Apparently insolvent estate

Until you know the stock in the tavern corp plus the other assets are
worth less than the DSHS debt, I  would say your estate is not truly
insolvent. If you sell the car at FMV, then where is the harm to
creditors?

Once you know it is insolvent, then my understanding of the statute is
that you must suspend PR activity until you get to hearing on the
insolvency.

But I nursed an estate along for two years on the brink of insolvency. ,
Our real estate in that estate had a broad range of values, based on
various agents' views of the conditions on site.  We finally received a
low offer, after a long time on market.  The offer was for less than the
creditor's claims. I then went to the creditors and negotiated a
settlement, which paid the creditors a reduced amount, paid the PR for
their time, paid administration expense and resulted in closing without
sending out the notice or terminating the NI powers. 

Michael A. Winslow

1204 Cleveland Ave.

Mount Vernon, WA 98273

Ph. 360-336-3321

Em. Mike at winslegal.com

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lovie Bernardi
Sent: Monday, July 27, 2015 2:38 PM
To: cole-gilday at stanwoodlaw.net; WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Apparently insolvent estate

Can anyone tell me if the administrator can continue to use her
non-intervention powers at this point? Or is it better to hold off on
any actions until after we petition the court for further direction? 

From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Robert R. Cole
Sent: Monday, July 27, 2015 11:54 AM
To: wsbapt at lists.wsbarppt.com
Subject: Re: [WSBAPT] Apparently insolvent estate

How many other unpaid creditors do you have?  If few, might talk with
DSHS re: keeping the non-intervention powers, by them getting everything
after the others are paid.

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C. 

10101 - 270th St. NW 

P.O. Box 249 

Stanwood, WA 98292 

(360) 629-2900 (Telephone) 

(360) 629-0220 (Fax) 

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On 7/27/2015 11:44 AM, Lovie Bernardi wrote:

	Dear listmates,

	I recently opened an intestate probate with limited assets that
appeared solvent at the time of filing. One asset, part ownership in a
tavern (actually shares of stock in the small corporation that owns the
tavern), has yet to be valued (we've just started negotiations for a
buyout by the other owner.) A car is up for sale on Craigslist. When I
arrived at the office this morning there was a large envelope from DSHS,
a creditor's claim for $90,000 for medical bills paid out over several
years, and a request for special notice. The PR was unaware of this
possible claim.

	I realize I need to file a Notice of Apparent Insolvency and
schedule a hearing, with notice to heirs, unpaid creditors and those
requesting special notice.  What can be done in the meantime, pending
the hearing? Can the PR sell the car if she receives offers? The special
notice statute requires notice of petitions to sell assets of the
estate, and under her nonintervention powers would not have petitioned
the court for the sale of the car. Can we negotiate the sales price of
the tavern and complete the sale?  If anyone has a sample of something
they've filed, that would be appreciated. Thanks in advance for your
help.

	Lovie Bernardi

	Attorney at Law

	Seligmann & Flaherty, PLLC

	216 First AVE S, #450

	Seattle, WA  98104

	(206) 682-2616

	lovie at sbfirm.com <mailto:joni at sbfirm.com> 

	http://sbfirm.com <http://sbfirm.com/> 

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