If you have been named the executor for a loved one’s estate, you may feel overwhelmed by all of the responsibilities this role requires. At the law office of W. Frank Ward, I am here to help you through the process and ease your concerns. As a Marietta probate lawyer, I can answer any questions you may have regarding the payment of an estate’s creditors or outstanding bills. You can rely on me to protect your interests and ensure that the administration of a trust or an estate is handled quickly and effectively.
I can guide an estate through probate or a trust through its administration. Contact me, a Georgia estate planning attorney, online or call 678-905-8753 for a no-obligation consultation.
Do Not Speak With Creditors Before Speaking With Me
One of the common concerns family members have during estate administration is what to do about making payments to creditors of the estate. The simple fact is, you do not have to make immediate payments to creditors after a loved one’s death, no matter how much pressure they put on you to get payment. As a Atlanta Area probate lawyer with more than 26 years of experience, I understand how to deal with creditors. I know how to talk with them so you do not have to. I will work closely with you to negotiate a plan that will satisfy even the most tenacious creditor.
It is important to know that no payments have to be made to an estate’s creditors until the Executor has had the time provided by law to collect all of the assets of the estate after a person has passed away. Many creditors will attempt to offer you a deal for a reduced payoff amount to get their money regardless of the assets you have in the estate and how many other creditors you have to deal with. Do not rush to accommodate them until the full nature of the estate has been established. There are certain expenses that are allowed by law to be allotted and paid for such as funeral expenses, legal/accounting fees and executor fees before creditors can get their share, and if the assets are less than the total debt, then their share can be prorated based on what is left of the estate’s assets. Even if there are enough assets to pay off creditors in full, I may still be able to negotiate a reduced payment at that time. I will shoulder the stress of bill collectors so you can focus on your life.
Experienced Help With Mortgages
Another concern you may have is what to do if an estate has a mortgage that is worth more than the property. You are not required to continue mortgage payments on the property if there is no equity for the estate to claim. You can let it go into foreclosure or give it back to the lender. In the alternative, it may be possible to negotiate a reduced payment if you want to keep the property. In either case, I can provide you with knowledgeable counsel to let you know what your options are.
I also provide experienced help with trust administration, which often involves the same kinds of issues. In every situation, I will work to preserve family harmony by providing complete transparency throughout the probate and administration process. When you are dealing with complicated matters, it is important to have a dedicated attorney on your side.
Call for a No-Obligation Consultation With a Smyrna Probate Administration Lawyer
I can answer any questions and address any concerns you have regarding the probate process. Contact me, a Georgia wills and trusts attorney, online or call 678-905-8753 for a no-obligation initial consultation. I provide a flexible schedule to meet your needs and can travel to meet with you, if necessary.