Legal Question in Wills and Trusts in Massachusetts

: Waiting time for creditors to collect

Usually within one year.

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Re: Waiting time for creditors to collect

A creditor must file its claims against an estate within one year of the opening of the estate. Payment of the claims may be challenged by the Executor for the estate.

Re: Waiting time for creditors to collect

Generally, a creditor should present claims to the estate within six months of death of the decedent. If an estate is anticipated to be solvent (that all administration expenses, burial expenses, and debts of the decedent can be paid), then the executor may, at his or her discretion, pay some or all of the then-presented creditor's claims. If the executor runs out of money, it could be tough luck for later filing creditors.

However, creditors have up until a year from the date of death to present claims, so if it is uncertain whether there will be sufficient assets, the executor may wait until the year passes before paying any creditors.

There are exceptions to the above, but these are the general rules.