What Can An Executor Do About Creditors?

Suppose the beneficiaries of an estate have a financial need for the assets that have been willed to them, but creditors have set their sights on them. What can the beneficiaries do by the rules of California estate settlement and probate law? Little can be done except by the decedent’s executor. The executor has the power to reject claims of creditors. Though this is in no way a guarantee that the beneficiaries will receive anything and the creditors will not, it does buy some time. Once the creditors claims are rejected, they will have to take legal action in order to further pursue receiving payment out of the decedent’s assets.

This entry was posted by admin on November 04, 2008 at 1:17pm. It is filed under Reference.

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