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Claims Against an Estate Any creditor of a decedent or a disabled person or minor has a right to file a claim against the decedent's or disabled person's or minor's estate. If no estate has been opened the creditor has a right to petition to have an estate opened. There is a time limit on filing the claims in decedent's estates. If a probate estate has been opened the time limit is the later of six months from the first publication of notice to creditors that an estate has been opened and a representative appointed, or three months after actual notice has been mailed to the creditors in the case of known creditors. If no probate estate has been opened claims are barred unless filed within two years after the decedent's death. When a decedent's assets pass by a trust or beneficiary designation the time bar of the Probate Act against asserting claims does not apply, although other statutes of limitation applicable to the particular type of claim do apply. Federal tax claims are a bit different. The IRS can recover assets of a decedent from beneficiaries to pay tax claims. This is called transferee liability. If a creditor of a decedent is known of, the time limits on claims do not begin to run until the creditor gets actual notice of the opening of the estate. If an estate is not large enough to pay all claims there is a set ranking for which claims get priority. First come funeral and burial expenses, expenses of administration of the estate and certain statutory claims for care rendered to the decedent by family members. In any event all of the decedent's debts and the expenses of administering the estate must be paid before the beneficiaries get anything. || Back to List of Topics ||
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Donald M.
Thompson * 55 W. Monroe #3950; Chicago, IL 60603 - Illinois
Probate Lawyer |
