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<b>I just do a standard Ptn for NP setting forth assets & claims
& add to it that the estate appeared to be insolvent when
Letters were obtained, a Notice to Creditors was published, an
Affidavit of Publication was filed, the four-month claims period
has expired, & insufficient claims were presented to render
the estate insolvent. Therefore, the estate is solvent &
meets that criterion for the PR to be granted NP.</b><b> Nothing
fancy. Just a recitation of the pertinent facts.</b><br>
<br>
<br>
<div class="moz-cite-prefix">On 11/21/2014 12:01 PM, Josh Grant
wrote:<br>
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<div>Richard</div>
<div> </div>
<div>I have a case which is now solvent after an incredible
number of creditor claims were not filed. Could you share
your form for that petition?</div>
<div> </div>
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Calibri'; COLOR:
#000000">Joshua F. Grant, PS<br>
Attorney at Law<br>
P. O. Box 619<br>
Wilbur, WA 99185<br>
tel 509 647 5578<br>
fax 509 647 2734<br>
</div>
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<div style="font-color: black"><b>From:</b> <a
moz-do-not-send="true"
title="richardwills@washington-probate.com"
href="mailto:richardwills@washington-probate.com">Richard
Wills</a> </div>
<div><b>Sent:</b> Thursday, November 20, 2014 8:56 AM</div>
<div><b>To:</b> <a moz-do-not-send="true"
title="wsbapt@lists.wsbarppt.com"
href="mailto:wsbapt@lists.wsbarppt.com">WSBA Probate
& Trust Listserv</a> </div>
<div><b>Subject:</b> Re: [WSBAPT] paying debts/closing
insolvent estate</div>
</div>
</div>
<div> </div>
</div>
<div style="FONT-SIZE: small; TEXT-DECORATION: none;
FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal;
COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline"><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> </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> </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> </div>
<div>Suggestions?</div>
<div> </div>
<div>Thanks so much!</div>
<div>Krista</div>
<div> </div>
<br>
<br>
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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 href="mailto:kjm.inc@mac.com"
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