Deceased Estates Administration Services Perth
Deceased Estate Administration: How to Handle Bills and Debts
Handling the bills is one of the important and time-consuming, even stressful parts of deceased estate administration. But these tips and guidelines can help:
- The surviving spouse may be personally responsible for the decedent's debts. This still depends on the state law. If you're a surviving spouse, it's best to consult with your attorney regarding whether and to what extent you must settle the bills of your spouse.
- If you're not the surviving spouse, don't pay the billls from your own funds, otherwise you may be deemed to have assumed the liability for paying the decedent's debt.
- Legitimate bills must be paid from the account of the deceased, and such payment must be made only by a peron who's authorize to make decisions, such as the Executor or Will or Trustee. Forward the bills to him, or if no one is serving as the Executor or Trustee yet, temporarily hold the bills without settling them until there's a person appointed.
- It's the job od the Executor or Trustee to identify which bills are legitimate, to accept or reject claims of creditors, and to fulfill the notification requirements of creditors. The Executor or Trustee must legal counsel regarding the accomplishment of these tasks, because failure to fulfill the legal requirements can put him liable.
- If creditors demand for payment before an Executor or Trustee has been appointed, inform them that all bills are on hold, waiting for an authorized personal legal representative of the deceased. If creditors file a claim or threaten legal action, immediately contact a lawyer or seek professional trust administration services Perth. Visit the website of Estate Administration Services to get legal help: https://www.estateadmin.com.au/wills-and-probate-perth-wa/