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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
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 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><B>Send a letter to the invalid (eg, late) claimants explaining why their
claims are barred & won't be paid.</B>
<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><B>Close with a Decl of Completion.</B>
<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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