Legal Question in Wills and Trusts in Arkansas
intestate
My dad passed away intestate. He was married at the time of his death but not to my birth mother. They had filed for chapter 13 or maybe it was chapter 7 bankruptcy but he had been able to make the meeting of creditors due to health problems. To add to this he & his wife have some back taxes owed to the Federal Gov.
He has some pending asbestos claims and we are not sure what the claims would be worth. My sister & I are trying to figure out if we should take this to probate or not. Thanks in advance for your advice.
1 Answer from Attorneys
Re: intestate
I would think it would be good to find out if there will be any possible assets from the estate. Even if there are debts, you will not owe them. They are owed by the estate, not the heirs.
From what you wrote, it looks like you and your sister will get a share of the estate, along with his wife.
A lawsuit, such as the asbestos suits you mentioned, can be continued by the estate of your father, with the proceeds going to his heirs, after his debts are paid.
You may want to check to see for sure what bankruptcy he filed. If it was a Ch. 7, this discharges most debts. It may have even gotten rid of some of his taxes. Certain taxes, over 3 years old, are dischargeable in a bankruptcy.
So, there are a lot of questions that will have to be answered to see how much, if any, the estate has in assets. But it would definitely be worth your time to have an attorney look into it. Even if the estate has no value, all you've lost is a little time.
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