Dealing With Creditor Issues During The Probate Process
One of the most difficult aspects of the probate and estate administration process is making sure that creditors’ claims against your loved one’s estate are satisfied. If you are the executor or administrator of your loved one’s estate, the Riddell Law Group can help you.
From our offices in Sarasota, Venice, and Lakewood Ranch, we provide conscientious, effective representation that may help eliminate stress on families throughout Southwest Florida who are grieving the loss of a loved one.
We Can Help You Prioritize And Resolve Debts
The law requires that known creditors, or creditors that file allowed claims, are dealt with before assets are distributed to the beneficiaries.
Mortgage debt on an inherited property must be addressed before you can convey the property to the beneficiary. This may mean that there is still money owed on the mortgage. One way to deal with this is to obtain an order approving the sale of the real estate through the probate court. The sale of the property to a buyer through a real estate closing will require the mortgage to be paid off as part of the real estate transaction. If there is no equity in the property, our attorneys at Riddell Law Group may be able to help you negotiate a release with the mortgage lender.
We negotiate with mortgage lenders on a near-daily basis. Because of our extensive knowledge of real estate and bankruptcy law, our attorneys are well-equipped to help you deal with questions surrounding your loved one’s property, debts and most-valued assets.
As our client, our goal is to ensure that you do not have to worry about the stressful legal issues surrounding creditors and probate because we can handle them for you. We know which creditors have priority and how to work with them to settle outstanding debts.
Once that is complete, we can assist you with distributing assets to the beneficiaries. Call the Riddell Law Group at 941-366-1300 or contact us online for knowledgeable guidance through the probate process.