Legal Question in Wills and Trusts in North Carolina
Items Designated in a Will
Does the executor of an estate have the right to sell items that were left to an individual in a will to pay off debt that the estate owes. The items were purchased long before the person died.
Asked on 11/07/07, 3:16 pm
2 Answers from Attorneys
Robert Thompson
J. Robert Thompson Attorney
Re: Items Designated in a Will
The executor is required to pay all debts before distributing anything. However, he also has a duty to pay the debts from sources other than specific bequests, if there are other assets sufficient to do so. He must use the "residuary estate" (i.e, everything not identified as going to a particular individual)before liquidating anything which is identified as going to a particular individual.
Answered on 11/08/07, 6:44 pm
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Re: Items Designated in a Will
Yes, creditors must be paid in full before heirs get anything.
Answered on 11/07/07, 3:21 pm