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Insolvent estate

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Insolvent estat

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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?
 


I AM ALWAYS LIABLE

Senior Member
Insolvent estat said:
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 response:

She did find a way (a legal way) to pay for the debt; i.e., to sell whatever personal property to raise cash to pay for the debts of the deceased.

You folks are out of luck, and your wife can thank her father for that. The executor is blameless and only following the law.

IAAL
 

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