Legal Question in Wills and Trusts in California
Estate worth only $45,000
Mom died 12/14. She has only a mobilehome worth approx. $45,000. When sold does it all have to go to the credit card companies and to pay off the portion of medical bills not covered by Medicare? She wanted it to go to the grandkids college fund. I am the sole executrix and have spent considerable personal money to maintain the trailer, pay off her vehicle, storage, utilities, etc. Where do I stand with being reimbursed? Her bills, in total, exceed the $45,000. Help, this is a tough job when you are not equiped or familiar and want to do the right thing. Your response is so apprecaited.
1 Answer from Attorneys
Re: Estate worth only $45,000
There are rules regarding who/what gets paid first when an estate is insolvent, at probate code section 11420. However, you do not need to pay the unsecured debts unless/until they make a formal claim in the estate, which can't happen until probate is opened. Or they can sue for a judgment, and typically the statute of limitations, or time they have to sue, is one year from the date of death.
The short answer, then, is that you may have to wait a year to see whether the creditors will pursue their claims. If they don't, the mobile home proceeds can go to the college fund (and reimburse you). In any event, the creditors can't take your personal assets--they can only split up the assets of the estate.
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