Legal Question in Wills and Trusts in Massachusetts
executor of small estate/admin question
i am executor of small estate(7000 or less) i am also majority heir medicaid put in a claim for 100000 i am trying to finish off estate they get whats left over after administration costs do tee costs include all the bills including credit cards i also estimated household furnishings&misc as 2000 they fall far below this do i have to sell all to satisfy debt ,can i estimate fair value and as exec buy out contents to satisfy debts&state claims all claims have been reported to other heir and heir is demanding distribution of items im under impression no distribution is to be done till state removes claim,also was appointed exec in dec how long can i probate this i can not devote all my time to this,would a year be reasonable,also if anyone can give me a lst of admin costs it would be great,also every three months i get demand letters from others lawyer do i need to respond i feel they have all info avail at this time
1 Answer from Attorneys
Re: executor of small estate/admin question
Costs of Administration means all costs related to the administration of the Estate.
What you have is a insolvent estate. You should write each creditor and inform them the estate is insolvent. As to the personal property, get someone to give you a value for sale purposes. If you want to buy the property you can.
You should try to settle with MA health first, and the credit card companies next.
You should do a little research on insolvent small estates. Please feel free to contact me if you have more questions.
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