I
Insolvent estat
Guest
What is the name of your state? PA
My wifes father recently passed away and left a will. In the will he left a few of his possessions to my wife and son and the remainder of the estate be left to his mother. His mother (My wifes grandmother) is the executor of the will and we were told that the estate was considered to be an insolvent estate. Does this mean that what was left to my wife and son needs to be sold to settle the debt left behind? Or is it the responsibility of the executor (grandmother) to find a way to settle the debt?
My wifes father recently passed away and left a will. In the will he left a few of his possessions to my wife and son and the remainder of the estate be left to his mother. His mother (My wifes grandmother) is the executor of the will and we were told that the estate was considered to be an insolvent estate. Does this mean that what was left to my wife and son needs to be sold to settle the debt left behind? Or is it the responsibility of the executor (grandmother) to find a way to settle the debt?