Legal Question in Wills and Trusts in Wisconsin
insufficient funds for estate
we do not have enough money to pay the realtor fees, when selling my sisters house. She owes $38,000.00 and the offer is $40,000.00 We need money $4,000.00 to pay for funeral expenses from the proceedes from sale of house , we don't have enough to pay the realtor, let alone the funeral. Under the state of Wisconsin statues, # 859.25, It states the the Funeral and Burial is to be paid first. Is this correct? Or do we have to pay off the banks first.
1 Answer from Attorneys
Re: insufficient funds for estate
The bank undoubtedly has a mortgage against the property. Consequently, out of the proceeds, the bank must be paid first. The broker would have some sort of equitable lien against the property, and would probably get the balance of any proceeds. If there is not enough to pay him, maybe he'd accept a reduced amount. The funeral costs, while a priority, are still unsecured, and would come next. Usually funeral directors get heirs to sign personally for these costs, so if the estate is insufficient, the heirs still have to pay the bill. Your situation doesn't sound like there is a good solution.
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