July 18, 2014 by generationsprobate
One of the aims of the probate court is to settle all the decedent’s financial debts. Volkov states that if debts far exceed estate financial holdings, the presiding judge could rule that inheritance property be sold to satisfy creditors. In this case, a skilled Sacramento probate attorney from a trusted firm like Generations can be relied upon to negotiate with creditors for a reduction of the estate’s debts.
Meanwhile, if the estate includes real property with outstanding mortgages, the heirs named in the will could opt to pay off the mortgage to protect their inheritance. After all debts are paid, the executor can then proceed with the tasks as stated in the last will.