Legal Question in Wills and Trusts in Massachusetts

Small estate?
Mother has credit card debt that was charged off two years ago she was in the process of filing bankruptcy that is a moot issue now. She owes over 130k in debt to the companies. Her house has a mortgage of 122k we have had a market analysis done and it might sell for 150K in todays market. After realtor commision and all we would probably end up with 19k. Then we have our expenses to keep the house while it is on the market which there is 1000 mortgage. Say it takes us 5 months to sell so we are now down to 14k. Do we have to probate all other assests were sold off to pay accumulating bills. She ws recieving 880 a month in Social Security and I, the executor was helping her stay afloat. She is in debt to me for quite a bit but I can not collect wither. I just want to know do I have to probate/

Asked on 11/07/08, 5:02 pm

Joseph Murray Joseph M. Murray, Esq.

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Re: Small estate?

I am sorry for your loss. But,yes you must probate to clear title to the real estate and most likely declare the estate insolvent. Good luck!

Answered on 11/08/08, 5:24 pm

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