Can an executor of an estate use their own monies to pay certain estate expenses while waiting for assets to sell and then submit those payments as a claim to the estate?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Can an executor of an estate use their own monies to pay certain estate expenses while waiting for assets to sell and then submit those payments as a claim to the estate?
I’m waiting for a house to sell, have very little remaining liquid assets and don’t want to default on monthly expenses (utilities, condo fees, taxes, etc.).
Asked on March 9, 2015 under Estate Planning, Ohio
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. It is not a good idea to act on your own here and with out the court's approval. You as the executor can possibly take a loan on behalf of the estate or ask the Probate Court to allow you to "loan" the estate money for bills pendng sale of the asset. This protects you and the estate. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.