San Diego trust lawyers at Grossman Law reveal a powerful tool trustees can use to cut back and eventually halt creditor’s claims against the trust.
Articles about Creditor’s Claims
In order to bring a claim to gain access to the assets of a trust, a creditor must sue the correct party. That party is the trustee, not the trust itself.
Assets held in a revocable living trust are generally not protected by creditors. There are many reasons why this is the case.
What should I do if credit card companies are contacting me regarding my deceased loved one’s estate?
Administering a probate in California can be a confusing process for those unfamiliar with the procedures. Unfortunately, failing to understand the responsibilities of an executor, administrator, or family member of a deceased individual can be costly.
The executor or administrator of a California probate estate has a duty to protect and preserve estate assets. Part of this duty involves denying or approving claims in the creditors claim procedure.
A Notice of Claim to a creditor, can make them file for a Creditor’s Claim. Learn about the information a creditor’s claim against an estate must contain.
Personal representatives must deal with creditor claims when administering an estate. View here for more from a Riverside probate lawyer.
San Diego probate and trust administration lawyer Scott Grossman explains how to notify creditors under the California probate code and handle their claims.