The executor of a will in Pennsylvania will have many responsibilities in administering the estate after a person’s death. It is important to understand them and adhere to the law in carrying them out. Often, an executor is a loved one who will be simultaneously coming to grips with the death of a testator and handling their personal affairs. With some issues like paying off claims, it can be confusing and the executor will be unsure of how the process works. With these issues and others related to estate administration, it is wise to have legal representation and advice from the start.
How claims will be paid if remaining assets are insufficient
The estate administrator must be cognizant of the law for classification and order of payment if the assets are not sufficient to pay what is owed. There is an order for which these claims will be paid. First, the cost of estate administration must be paid. Then there will be the family exemption which is currently $3,500. After that comes the costs for the decedent’s funeral and burial.
If medication was administered within the final six months of the person’s life and was not paid for, that must be paid. In addition, any medical care or nursing home services will be paid. The gravestone will be paid for, the rent for the person’s residence in the final six months of life, and other claims will then be paid in order.
Understanding the responsibilities of estate administration may require legal assistance
Probate and estate administration can be complicated and worrisome. In addition to paying the decedent’s remaining claims, there can be other concerns in overseeing the distribution of the property. Every situation is different and people may have disagreements between heirs, real estate, retirement accounts, bank accounts, investments, collectibles and more. For advice throughout the process, having legal guidance from the start can be useful. Calling for a consultation and representation may be vital and a legal professional could be able to help.