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money held at State Treasurer's

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jack109

Guest
My father deceased 15 years now, has money being held at the State Treasurer's office. If I open his estate and file for executrix and he has past debtors will I be held responsible for these debts?
 


dmode101

Member
Only his estate can be used to pay creditors, you will not be personally liable. So, you have nothing to lose.

If your dad has claims that are still valid against your dad, his estate can be liable for them. However, there is a statute of limitation which varies by state (6 months in IL) after which claims are barred. To bar the claims, you have to both publish in a newspaper (according to state rules) and specifically notify any "known or reasonably ascertainable" creditors. Your probate attorney can explain the process more specifically.

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Jeffrey R. Gottlieb, Attorney at Law
http://www.illinoisestateplan.com
This response is not legal advice and does not create an attorney-client relationship.
 
J

jack109

Guest
Jeffery, thank you so much for replying. I think my brother and I are going to go to the court house and file for executrix. I guess we have nothing to lose.

Thanks again
 

dmode101

Member
Good luck. Every state differs, but do-it-yourself probate is not easy to do. Amd I would not expect the people at the courthouse to be helpful. Probate usually requires a lot of paperwork and procedure. If you hire an attorney, his/her fees would be paid by the estate, before creditors, so again you have nothing to lose.

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Jeffrey R. Gottlieb, Attorney at Law
http://www.illinoisestateplan.com
This response is not legal advice and does not create an attorney-client relationship.
 

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