Executors are not personally liable for unpaid debts or lender losses. Costs are paid from the estate or prioritized by law.

A. There is no specific time frame for administering an estate. But state law says it’s the duty of an executor to settle and distribute the estate of a decedent pursuant to the terms of the will and ...

Q. Our mom passed away, leaving her house to A. She left all her other assets to B, C and D. The house is appraised at $400,000. The total value of the other assets is also $400,000. All the ...

'There's no trust in place, but there is a will' "How long does it take for an executor to be able to access the account and pay the debts of the deceased?" (Photo subject is a model.) Dear Quentin, ...

A letter of testamentary gives the executor of the deceased's estate the authority to handle their financial affairs. Many, or all, of the products featured on this page are from our advertising ...

Q: My will reads: “I hereby direct that all my debts, including the expenses of my last illness and funeral expenses and administration of my estate be paid by my Executor as soon as possible after my ...

Aaron Broverman is the Managing Editor of Forbes Advisor Canada. He has almost 20 years of experience writing in the personal finance space for outlets such as Bankrate, Bankrate Canada, ...

How to avoid the strong potential for family strife.