Legal Question in Credit and Debt Law in Minnesota

promissory note collection after spouses death

If the husband has a sole proship. business and has personally signed promissory notes and has given us business checks to cover the entire principal...two days before his unexpected his estate responsible for the debt? He has alot of property and we think life ins. Is his wife responsible for the debt. How do we go about collecting??? thank you!

Asked on 7/20/06, 2:54 am

1 Answer from Attorneys

David Anderson Anderson Business Law LLC
0 users found helpful
0 attorneys agreed

Re: promissory note collection after spouses death

If the checks were written prior to death, they should be honored by the business checking account on which drawn. If funds are insufficient, the estate would pay. The wife or others are NOT liable. If amount is substantial, it may pay to hire an experienced business attorney to obtain payment. Call or e-mail for further assistance.

Read more
Answered on 7/20/06, 7:15 am

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Minnesota

Looking for something else?

Get Free Legal Advice

88953 active attorneys ready to answer your legal questions today.

Credit, Debt and Collections Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Glen AshmanAshman Law OfficeAtlanta, GA
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now