Creditor Claims Against a Decendent’ or Decendent’s Estate
One of the purposes of estate administration is to ensure that the decedent’s debts and liabilities are paid. While the law requires that “known or reasonably ascertainable” creditors be given notice of the administration, this does not always happen. Further complicating matters, is that a probate is not always commenced, leaving the creditor in the dark as to who is in charge of handling the decedent’s debts. In either case, creditors of a decedent must act quickly as the time with which to bring your claim is very short (usually one year from the date of death or shorter if notice has been given) and is procedurally involved. Therefore, you should immediately seek legal advise from an attorney regarding your situation. Contact the Law Offices of Gregory W. Cabo today to discuss your situation and options, and learn how to pursue your claims.
Can an estate plan be changed or revoked?
Generally, wills and living trusts can be amended, changed or revoked during your life. Certain types of trusts, however cannot be amended or revoked.