Pennsylvania | Wills and Trusts
Legal Question
What are the liabilities of an executor?
My father-in-law is the executor of his brothers estate. We have not yet registered the ''Will'' with the ''Register of Wills''. We are concerned that my father-in-law will be financially responsible, due to the large amount of debt that was left by his brother. A mortgage balance is due on the property for more than 50% of the homes value, and the remaining debt exceeds the remaining 50%. We are not sure if he should walk away from the estate or if he should file? He has signed for the funeral expenses and the life insurance policy is not enough to cover this bill.
As a seperate issue the personal belongings that remain in the home, such as furniture, are we permitted to remove those items prior to the filing of the Will?
A few checks from my uncle will be comming in made to the estate, how are those handled?
Thank you
Rich--name removed--
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Read More Answered By: Stanley Fudor |
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