Legal Question in Wills and Trusts in California
Estates with no money to pay bills
What happens if there is no money left in an estate to pay bills or give money to benefactors as deceased wished?
Asked on 10/28/01, 10:05 am
2 Answers from Attorneys
Chris Johnson
Christopher B. Johnson, Attorney at Law
Re: Estates with no money to pay bills
There is a priority in the California Probate Code stating which creditors get paid first. If there's anything left, the "specific gift" beneficiaries ("I leave $100 to X," etc.) share it, then any remainder goes to the residuary beneficiaries ("I leave the rest of my estate to X and Y.").
Answered on 11/25/01, 12:12 pm
Ken Koury
Kenneth P. Koury, Esq.
Re: Estates with no money to pay bills
then no one gets paid.
Answered on 11/22/01, 4:37 pm
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