Legal Question in Wills and Trusts in Florida
Satisfying creditors during probate
My father-in-law died with no money, just a house with six years to go on the mortgage. My husband and his sister are both beneficiaries and executors. How will his creditors be satified if there is only the house left and the contents not having enough value to cover the debts? Will my husband and his sister be forced to sell the house?
Am I really concerned because our uncle and his wife are to stay in the house until they die or wish to leave. My husband is hesitant to hire an attorney to handle this.
2 Answers from Attorneys
Re: Satisfying creditors during probate
If that house was your father-in-law's homestead then it is exempt from creditors. The house will not have to be sold to pay the creditors. Is the house in your Father's name only? To be sure you get this house exempt there are certain forms which are required to be filed with the Court and Florida Dept. of Revenue. If the estate is small meaning only the house and the household belongings and you have a Will I would be happy to discuss a reduced rate. Feel free to contact me. Sincerely, Melody Stickel-Martinez (954)966-4140
Re: Satisfying creditors during probate
The property that you describe is protected by Florida homestead laws. I can show you a method to avoid the extended probate process, vest title in the beneficiarties and avoid creditor's claims.
Please Phone after this Thursday. 850-434-5524. Thank you. JMC
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