Can creditors make claims on a small estate?
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Can creditors make claims on a small estate?
My father recently passed and through probate I was able to become Personal Representative of the estate. It is a small estate of $15,000 so I do not have to publish his death to creditors.
Asked on November 14, 2012 under Estate Planning, Michigan
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
If you are not required to publish, that is good. However, this is not going to preclude potential creditors from making claims on the estate either through probate court or through separate actions if creditors have viable claims and have not been paid. Consider the options you have if you know of any active debts and see if any can be negotiated down to a percentage payment as an accord and full satisfaction of debt.
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