Legal Question in Wills and Trusts in Virginia
Deceased Aunts debt
I am the executor and beneficiary of my aunt's estate. I was advised that the credit card debt is unsecured debt and therefore the companies really cannot come against the estate for it, is this true?
1 Answer from Attorneys
Re: Deceased Aunts debt
Claims against an estate are paid in accordance with the manner of presentation. A set order of preference is established for the payment of all claims against an estate. As an adminstrator you have other duties. Although an administrator bears a lessor responsibility than a fiduciary, Maryland allows that the claim be provided equitable relief. Non-secured claims have a different priority than secured claims and bequeathals made through the will. An administrator may receive funds and may compromise debt during the administration of an estate. If you should require assistance, contact me at (410) 799-9002.
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