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Estate Debts, Claims and Liabilities

It is the responsibility of a Bucks County executor or administrator to properly evaluate any debts of the Decedent and any claims made against a Bucks County estate. The executor or administrator should pay all valid estate debts or claims so that a lawsuit is not brought against the Bucks County estate.

It takes an experienced Bucks County estate attorney to help an executor or an administrator make the determination as to whether or not to compromise or negotiate a claim against an estate. A debt of a Bucks County estate can be used as a deduction on the Pennsylvania Inheritance Tax Return and the Federal Estate Tax Return.

In some Bucks County estates, there are more estate debts than estate assets. Under Pennsylvania estate law, there are mandatory procedures that must be followed if there are not sufficient estate assets to pay the estate debts.

Contact us if you are named as executor or administer of a Bucks County estate.

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