Legal Question in Wills and Trusts in Pennsylvania
debts that exceeds the estate assets
are the heirs responsible for satisfying those debts although they did not recieve anything at all from the estate?
Asked on 12/14/00, 9:53 am
1 Answer from Attorneys
Murray Eckell
Eckell,Sparks,Levy, Auerbach,Monte,Rainer,&Sloane
Re: debts that exceeds the estate assets
No. If you are referring to a situation where the debts of the decedent exceed the value of the decedent's assets, then the estate is insolvent and the heirs are not responsible. The only caution is if there is real estate with a mortage on it, that constitues a lien and the heirs would take subject to the mortgage.
Answered on 12/15/00, 9:11 am
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