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Estate Administration
Probate & Non-Probate Assets
Payment of the Decedent’s Debts
Death Certificates
Probate Court Costs
Attorney / Executor Fees
Role of the Executor
Estate Tax
Income Tax – Estate
Income Tax – Beneficiaries
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As soon as possible after the decedent’s death, a list of the decedent’s debts should be gathered. Before any debts are paid, the list should be reviewed with the attorney handling the estate. Be certain to check for life insurance on any outstanding mortgages or secured loans.
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To learn more about
Handling An Estate
Contact Us to Schedule a Visit
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Debts are usually paid from the decedent’s probate assets. Creditors have six months from the date of death to present claims against an estate. Generally, these debts are paid from an estate checking account. If there are no probate assets, often debts are paid by the beneficiaries of non-probate assets. It is important to understand that the executor is not personally responsible for the debts of the decedent incurred during the decedent’s lifetime, unless the executor in his or her individual capacity has signed to be responsible.
If the decedent’s debts are in excess of the probate assets, then a notice of insolvency can be filed with Probate Court, and the debts are paid in accordance with a schedule established by the Ohio Revised Code. If an estate might be insolvent, family members should seek legal advice before negotiating to pay the decedent’s bills that exist at his or her death. Funeral homes and cemeteries require that an individual sign to guarantee payment of these after-death expenses.
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