[WSBAPT] Creditor's claim interest post-death
Eric Nelsen
Eric at sayrelawoffices.com
Mon Nov 18 10:58:12 PST 2019
The Note's interest continues to accrue. The Note is a contract between decedent and creditor and the contract remains enforceable. RCW 4.20.046(1)<https://app.leg.wa.gov/RCW/default.aspx?cite=4.20.046>; RCW 11.48.090<https://app.leg.wa.gov/RCW/default.aspx?cite=11.48.090>. A creditor claim also covers amounts "not yet due." RCW 11.40.070(e)<https://app.leg.wa.gov/RCW/default.aspx?cite=11.40.070>. Probably easiest thing to do is make the amount of claim the principal balance owing under the Note (even if it's not due yet), "plus unpaid interest on and after [date] in accordance with the Note, and all other amounts not yet due under the Note." The Note terms still control due dates for installments, etc.
Y'know, it's never occurred to me before--I wonder if one could petition to have the Estate allow the claim and also require the Estate to continue making installment payments, as "performance of a decedent's contract" under Ch. 11.62 RCW<https://app.leg.wa.gov/RCW/default.aspx?cite=11.60&full=true>? Or perhaps the creditor claim provisions would control over that chapter, if the decedent's "performance" is nothing more than installment payments of money.
Sincerely,
Eric
Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA 98144-3909
phone 206-625-0092
fax 206-625-9040
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lovie Bernardi
Sent: Monday, November 18, 2019 10:32 AM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Creditor's claim interest post-death
Dear listmates,
I may be overthinking this. Does a creditor's claim on a promissory note include post-death interest or only interest up to the date of death? Filing a claim for a client.
Lovie L. Bernardi
Flaherty & Bernardi, PLLC
3600 15th Avenue West #205
Seattle, WA 98119
(206) 682-2616
lovie at fb-lawfirm.com<mailto:joni at sbfirm.com>
http://fb-lawfirm.com<http://sbfirm.com/>
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