One Month Left.... Please Help Me

[Melziee]

What is the name of your state? NC... And I do pray someone can help me out here...My mother passed in June of 2004 making my brother and myself co- executors of her entire estate, share and share alike.
She had two vehicles, both blue booked at $1500 each, a house and lot that in a hand written will she specified be given to my brother, and a mobile home and lot she wanted me to have. Unfortunately with those homes have come alot of debt. $49,000 is left on one and $29,000 on the other. Now....I
have continued to make the mortage payments on BOTH houses as my brother has moved away There is also the matter of the claims that have been filed against the estate. If all are valid I'm looking at coming up with $22,000 by July 15th or " the Clerk of Supreme Court will order the properties sold" according to my brother.
So....my questions are pretty simple...It is my understanding that any claim not filed by the deadline (from the notice to creditors) are going to be voided? Is this correct information or wishful thinking??? Also, if the claims were to be voided and the estate closed could those creditors still come after me personally?Any feedback would be greatly appreciated...

 

[Melziee]

well thanks ya'll......

 

[anteater]

Alright.....

Your post indicates that you are aware of $22,000 of valid claims against the estate. As executors, you & brother need to use the estate assets to pay them.

Perhaps I am reading too much into your post, but you seem to be thinking that if notice of estate administration does not produce a creditor claim, then you can ignore it even if you are aware of the liability. If the executors are aware of creditors, they have a positive responsibility to notify those creditors of the estate administration.