Legal Question in Wills and Trusts in Massachusetts

debt and estate management by theexecutor

My friend is the executor of his father's estate. The estate's assets consist only of a house valued at approx. 700,000 that has not sold. He have no money to pay taxes,ultilties, etc. on this house. Can't he take out a home equity or some kind of loan? He thinks he personally, and his assets, will then be on the line as he is the executor. I think that the estate is separate from his personal holdings and that they do not become merged when you are the executor. I think he could use the house as collateral for the loan until it sells, then repay the loan. Am I right? Is there an even better solution?


Asked on 6/17/06, 8:22 am

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Re: debt and estate management by the executor

He is going to have to do something. Otherwise, he is going to have to deal with increasing bills, and liens. What you don't tell me is at what stage is the proceedings, and whether he has sought any help from the court about getting permission to do something. Is he also the sole beneficiary?

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Answered on 6/17/06, 11:50 am


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