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<b>Krista --- In your circumstance, what I've done is:</b><b><br>
</b>
<ul>
<li><b>Petition the Court for & obtain Nonintervention Powers,
based on the expiration of the claims period & the
estate's solvency thereafter.</b></li>
<li><b>Send a letter to the invalid (eg, late) claimants
explaining why their claims are barred & won't be paid.</b></li>
<li><b>Negotiate with the valid claimants & pay off their
claims in the negotiated amounts (in my experience, claimants
typically accept 50-90% of their claimed amount so long as
they can be paid promptly; I've had loads of claims by DCM
Services, who, in my experience, are the most hardball,
typically unwilling to accept less than 80-90% of their claims
--- most others are in the range of 50-75%).</b></li>
<li><b>Close with a Decl of Completion.</b></li>
<li><b>Distribute what remains to the heirs.</b></li>
</ul>
<p><b>I do my best to avoid a Ptn for Final Distribution unless the
estate is truly insolvent & can't be made solvent, as that
action is time consuming & expensive. It's just a lot
simpler & cheaper to get Nonint Powers if there's any way to
make the estate solvent. For example, I've written claimants
telling them they will get little or nothing if the estate
remains insolvent & asking them to release their claim or
settle it for pennies so the estate can become solvent &
Nonint Powers may be obtained, so the estate may be closed
cheaply & efficiently.</b><br>
</p>
<p><br>
</p>
<div class="moz-cite-prefix">On 11/19/2014 2:20 PM, Krista MacLaren
wrote:<br>
</div>
<blockquote cite="mid:F1E9FEA0-E2C4-445B-A982-34E13641D098@mac.com"
type="cite">Hi Listmates:
<div><br>
</div>
<div>I have what was considered an insolvent estate upon opening
the probate. The creditor claim period has now passed, and many
creditors did not file claims (although actual notice was given
to all), so there may be some money left over for the sole heir.
I am trying to decide if it is better to go ahead and accept
the few filed claims and pay them, and perhaps send a rejection
to a debt collection agency that failed to file a claim but sent
demand letters during the claim period, and then file a verified
final report and petition for distribution and closing, OR to
wait to accept or pay claims, file a verified report and
petition asking the court to approve payment of the claims,
approve rejection/ignoring of any other creditors (who failed to
file claims), payment of attorney fees, funeral expenses, etc.,
and discharge of PR after paying creditors.</div>
<div><br>
</div>
<div>Suggestions?</div>
<div><br>
</div>
<div>Thanks so much!</div>
<div>Krista</div>
<div><br>
</div>
<br>
<br>
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<div style="word-wrap: break-word; -webkit-nbsp-mode: space;
-webkit-line-break: after-white-space; "><span
class="Apple-style-span" style="border-collapse:
separate; color: rgb(0, 0, 0); font-family: Calibri;
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<div style="word-wrap: break-word; -webkit-nbsp-mode:
space; -webkit-line-break: after-white-space; ">Krista
J. MacLaren<br>
Attorney at Law<br>
Northgate Executive Center II<br>
9725 3rd Ave NE, Suite 600<br>
Seattle, WA 98115<br>
(206)523-6116<br>
<a moz-do-not-send="true"
href="mailto:kjm.inc@mac.com">kjm.inc@mac.com</a><br>
<br>
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<br>
<br>
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