[WSBAPT] Insolvent estate

[Heather deVrieze]

That would be my advice as well. It doesn't mean they couldn't start probate later if assets become available, or if the two year creditor period runs and there are assets left.

One thing I have been pondering of late, would appreciate others input:

             What if the named Personal Representative, as notice agent, published a non-probate notice to creditors and sent it to all reasonably ascertainable creditors. Once the four month claim period runs, if claims weren't submitted or were small enough, could then petition for appointment of Personal Representative knowing exactly what the debts were. This is of course more challenging when there are IRS or other governmental/tax liens, and a mortgaged property would add complications, but seems like a wait and see approach that could speed up the process. What I'm not sure about is what happens if the notice is published and a mountain of claims comes in. Then, what is the notice agent's duty to handle claims? Can they walk away more easily that if they were the appointed Personal Representative?

Heather


Heather S. de Vrieze
Attorney-at-Law
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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, October 10, 2016 10:42 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Insolvent estate

Listmates,

New client's mother passed away suddenly and it appears from what we know so far that there is virtually no cash or property of value in the estate and that there are numerous debts. We will know more when client gains access to mother's mail. My inclination is to advise to take no action. Anyone care to weigh in on the pros and cons of this? I have represented an insolvent estate before, but there were significant assets to pay costs of administration and some of the creditors.

Lovie L. Bernardi
Flaherty & Bernardi, PLLC
216 First AVE S, #450
Seattle, WA  98104
(206) 682-2616

lovie at fb-lawfirm.com<mailto:joni at sbfirm.com>
http://fb-lawfirm.com<http://sbfirm.com/>

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