Legal Question in Wills and Trusts in Maine

executive of will keeping me in the dark

My fathers home was left to me in his will. There is a second mortgage on the home with approx. 28,000 left to pay. My sister is the exec. of the will and is telling me that the house will have to be sold because liquid assests of the estate will not cover the mortgage in full. My question is what order are creditors paid in and is this mortgage top priority over med. and other bills. my father had a bankruptcy about a year ago so does not have much new debt and has a retirment fund of $20,000 along with a small life insurance policy. Would the house be sold even if the majority of the mortgage is paid? How could i go about paying the remainder or what other steps could i take to keep the house if his debts exceed the money in his estate? Who does the house belong to legally from the time of his death until probate is completed? I was under the impression that the full amount of the mortgage along with the other bills would be sent into probate and it would take some time to know what is going on. How much does the executive have to notify me of what they are doing with the estate?


Asked on 3/24/07, 7:16 pm

1 Answer from Attorneys
Jerome Gamache Ainsworth Thelin & Raftice, P.A.

Re: executive of will keeping me in the dark

If I understand the question, the issue is not so much if the estate can keep paying the mortgage while it is being Probated, but assuming there is some equity in the home, if the other debts of the estate can be paid in full before the bequest of the home to you is made. The home cannot be transferred to you with its equity if the estate is otherwise insolvent. The life insurance and retirement moneuy may not be part of his estate if they were left to specific beneficiaries accouding to the terms of the policy and the retirement plan.

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Answered on 3/26/07, 8:10 am


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