Legal Question in Wills and Trusts in New York

settling debts

a sick man passed away. the executor of hiss will, a colleague, gave his duties as the executor to a lawyer. the deceased had willed 10,000 dollars to one child and his home to the other. the deceased also had some medical bills and creditors to pay at the time of death. the lawyer claims there is no liquid cash availble to satify the man's debts and the money he willed to one child. the lawyer also claims that since the home to one child was a ''specific bequest'' he cannot touch it to satisfy the man's debts or pay the other child his monetary inheritance. what say you? this is turning into a fiasco, and the executor is in the middle.


Asked on 6/19/06, 11:23 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: settling debts

I cannot properly answer this question without seeing a copy of the actual Will. Is there language in the Will stating that all bills and just debts are to be paid off the top before any bequests are paid? If there is, such language might take precedence over the specific bequest. From the way you pose your questions, it appears there was more than one specific bequest: one of property and one of $10,000. These would be considered equal, if that is the case; with both being liable for the payment of debts (perhaps equally or pro rata). Again, without seeing the specific language, I cannot tell. If you send me, by mail or by FAX, a copy of the Willo, I can better advise you. This is a response to an Internet question, and is not intended to be legal advice or create an attorney-client relationship.

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Answered on 6/19/06, 2:05 pm


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