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​How Long do Creditors Have to Seek Payment From Estate Assets?

If a person dies with outstanding debts, those creditors have a right to seek payment from the assets of the estate.  Some debts, like a mortgage, will be satisfied on the sale of the real property that secures them.  Others, like credit card debts or personal loans, can only be satisfied by the assets of the estate.

The statute of limitations for a creditor to seek payment from the estate is one year after the date of death.  They do, however, have a limited ability to file late if they can show good cause.  They also have standing to open a probate matter if the heirs do not do so within a year of the date of death.

If your loved one dies with more debts than assets, you can have the estate declared insolvent.  In that case, the creditor will have no recovery, and cannot seek payment from the heirs outside of the estate process.

Learn more here about how to initiate the probate process.

Need Help With a Parent's Estate?

Contact Us
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  • Home
  • About
    • Slnlaw Offices
    • Fees and Payment
    • Privacy Policy
    • Publications and Interviews
  • Attorneys
    • Emily Smith-Lee >
      • 2018 Lawyer of the Year
    • Jenna Ordway
    • Rebecca Rogers
    • Andrew Silvia
    • Elijah Bresley
  • Reviews
  • Contact
  • Blog
  • Employment Law Solutions
    • Employment Law MA
    • Discrimination in the Workplace
    • Employment Termination
    • Sexual Harassment at Work >
      • Sexual Harassment in a Small Business
      • Sexual Harassment and Non Disclosure Agreements
      • Sexual Harassment and Remote Work
    • Wage and Hour Laws
    • Independent Contractor Law
    • Non Compete Agreements >
      • Are non competes enforceable
      • Massachusetts Non Compete Act
      • Pre 2018 Massachusetts Non Competes
    • Equal Pay Act
  • Estate Planning
    • Massachusetts Wills and Trusts
    • Why You Need an Estate Plan
    • Massachusetts Estate Tax
    • Inheritance Tax
    • How to Make an Estate Plan
  • Business Law Solutions
    • Small Business Law
    • Business Contract Basics
    • Civil Suit Defense
    • Legal Issues for Start Ups
    • Trademark Basics
    • How to Incorporate
    • Sale of Business
  • Legal FAQs
    • Estate Planning FAQs
    • Probate FAQs
    • Small Business FAQs
    • Wage Act FAQs
    • Commission Pay FAQs
    • Overtime FAQs
    • Independent Contractor FAQs
    • Non Compete FAQs
    • Employment Discrimination FAQs
    • Employment Termination FAQs
    • Severance Package FAQs
    • Medical Leave FAQs
    • Sexual Harassment FAQs
    • Massachusettts Unemployment FAQs
    • Employer FAQs
    • Civil Lawsuit FAQs