Legal Question in Wills and Trusts in Minnesota
My father recently died and I am the executor of his will and estate and he has several outstanding medical bills and debts. I am having AN AUCTION TO SELL OFF HIS ESTATE WHICH HE LEAVES TO ME IN HIS WILL. MY QUESTION IS DO I HAVE TO USE ALL OF THE MONEY FROM HIS ESTATE TO PAYS HIS OUTSTANDING DEBTS? AND CAN I BE HELD LEGALLY LIABLE FOR ANY OF THEM IF I DO NOT?
THANK YOU!
1 Answer from Attorneys
Before getting rid of assets of his estate you need to determine what debts there are that need to be paid off. Depending on how large the estate is you may need to go through the court probate process as well and get permission to distribute property.
My advice to you before you start selling property would be to contact an attorney and sit down with them to determine the best route to take with the estate. I do not know all the circumstances of your situation and the estate, but selling off property before doing anything may not be in your best interests.