What happens if a previously unknown creditor makes a claim on the probate estate?
This is one of the ways a trust or estate may end up with insufficient funds to pay us in full, and it is a risk we assume. We can only receive those distributions from the probate or trust that are due to the heir or beneficiary. Medical claims arising from the last illness are a major concern. We absorb the loss and have no recourse to the heir unless the heir or beneficiary was aware of the claim(s) and failed to disclose it in the application process.
Related Questions
- What happens if the estate has more than $100,000.00 in probate assets, not including the homestead, or has more than one creditor and there is no properly drafted will?
- What happens if a previously unknown creditor makes a claim on the probate estate?
- What happens if a previously unknown creditor makes a claim on the estate?
