Legal Question in Wills and Trusts in Tennessee
Collectable debt in an estate
My Father passed away this year in Tennessee and left a trust that has $500,000 of debt owed to him mostly in the form of checks written to a few individuals in the form of loans. In the memo portion of the personal check he had written loan and sometimes loan for 'example' included. Is
this a debt that can be collected by a trustee of his trust?Which court would you litigate in?
1 Answer from Attorneys
Re: Collectable debt in an estate
It depends on whether the money came from the individual or the trust. If the money was loaned from assets other than trust assets, the money would be owed to the probate estate of your father, and the personal representative of the probate estate would take action to recover the money. If the money wasl loaned from trust assets the money would be owed to the trust, and the trustee would take action to recover the monehy. The action would be filed in "****" County Chancery Court. I can help. 423 266-0199
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