Legal Question in Wills and Trusts in New Jersey
$ hungry Aunt but no money in estate for her or bills
My father died April 2004. I am the executix to the will. My father had cancer, no health insurance, only income was social security. He did not own a home he rented it with my grandfather. Today I get a certified letter from an attorney representing my grandfather and Aunt. It states that My grandfather loaned my father $30,000.00 And that my aunt was left a watch from my father.My Uncle was left the watch not my Aunt. I told her last week I was mailing it certified return receipt. Now they want this supposedly $30,000.00 that she asked me for at the cemetary right after we buried him. I told her she should have taken it up with him when he was alive. First of all. My father owned nothing. His truck is in the business name which I own the business with him. Is that part of the estate since it was mine already through the business? Many creditors are contacting me and he has $83.00 in his estate acount. His credit bills and medical bills are well over $100,000.00. What do I do? there literally is no money. I did get a life insurance policy but that only covered the funeral expenses. My half brother's insurance policy is around $50,000.00 Some bills are house bills should my grandfather be paying them since he lived there not me?
2 Answers from Attorneys
Re: $ hungry Aunt but no money in estate for her or bills
If there were no assets, other than the watch you sent, you have complied with the Will. As executor you have no personal responsibility for outstanding debts, unless you have acted improperly. I suggest contacting all creditors, advising them of the status of the estate (no assets, only liabilities) and express your apologies that they cannot be paid. If the truck was always a business asset, it should be protected.
Re: $ hungry Aunt but no money in estate for her or bills
Dear sir or madam:
If there your estates have no assets, then his creditors cannot be paid. As executrix, you are not personally responsible for the decedent's debts.
However, you mentioned that you and your father owned a business together. This business interest may be an recoverable asset. You should speak with an attorney to determine the nature of you business and to what extent it may be subject to your father's creditor's claims.
Contact my office directly at [email protected] to discuss your case in greater detail.
Anthony S. Park
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