Legal Question in Wills and Trusts in California
Executors
My mother passed away 4 mths ago, and she had a house that she was still making payments for, as well as credit cards. I am her only child and she had never been married. I was the beneficiary to her life insurance and recently recieved this income. I was told that in order to sell the property I would have to become the executor and probate it. Well i had spoken to an attorney about if her creditors would be able to come after me to collect on her debts, I was told yes if i became the executor. The house has no equity becuase payments were not being made even before she passed away. I recently recieved a copy of my credit report and it states that I am her executor, can they do this? Even though I have never signed anything claiming any of her assets other then the life insurance she had left me. I am puzzeled about this process and need clarification. I am afraid that her creditors will come after me becuase i have this income. I would really appriciate any advice and help. Thank You
2 Answers from Attorneys
Re: Executors
You are only required to probate an estate in CA if the assets that were in your mother's estate that did not pass by trust or will substitute, exceed $100,000. A probate is disigned to protect the creditors of the estate.
With the limited facts that you have given I am not sure if a probate is required, and what your responsibilities are or will be. Please call me if you would like to discuss this further.
Re: Executors
Your personal assets as an executor are not to be applied to the estate's debts. Call me directly at (619) 222-3504 and I can represent you so as to successfully probate the estate if necessary.
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