Alabama Sample Letter for Payment of Probated Claim
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How to fill out Sample Letter For Payment Of Probated Claim?
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FAQ
After the executor is appointed by the probate court, the executor is charged with managing the estate. The executor must determine what assets are in the estate and secure the estate assets for the benefit of the heirs and potential creditors. If the estate owes debts, the executor must negotiate with the creditors.
The End Stage of Probate Once debt and bills are paid and the remaining assets are distributed, the executor will submit receipts and records of everything to the court. At that time, the executor will ask the court to close the estate and release the individual from the role of executor.
If probate is not filed within the given period, Alabama law will treat the estate as intestate. In other words, it will be treated as if there were no will (even if one exists), and the distribution of assets will follow the state's succession laws.
It depends. A summary probate proceeding could take as little as four months. In many states, a typical probate and estate administration process may take up to two years. The probate process can take years to settle in an estate with contested issues or lawsuits.
File a Petition with the Alabama Probate Court If the decedent did not leave a will, the document appointing the personal representative is called Letters of Administration. If the decedent did leave a will, the document is known as Letters Testamentary.
You are not allowed to pay any debts of the Decedent unless a written claim is filed in Court. Creditors have six months from the date the Estate is opened to file a claim with the Court; however, if you fail to timely give the ?notice? discussed in paragraph 4 above, this time may be extended.
A final settlement can be made six months from the date of the grant of Letters Testamentary or Letters of Administration.
If there are no complex claims to handle, probate can be completed between six months and a year from when the process is started. If there are difficult claims to sort out, or if any probate litigation is initiated, the process may take longer.
