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Old 09-16-2018, 02:42 PM
 
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A judgment from about 8 years ago exists against the deceased. The heir(s) were unaware of the judgement. The judgement if fully paid would consume most of the assets. If unaware, they might have distributed the estate under simple small estate procedure, without probate. Did I expose them to loss by informing them?
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Old 09-16-2018, 02:47 PM
 
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No one can say. If it goes through probate the court will see the judgement . If there is real estate and the title search shows it then it is found.

If the assets are just distributed then the creditors can sue those who took it. The courts recently ruled in a case that ira’s that were inherited could be recovered from by creditors
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Old 09-16-2018, 03:20 PM
 
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It is probably state dependent, but it's possible that the creditor has a certain period of time in which they were required to request payment through the estate/probate process (my state I think is 1 year). If the estate was opened, probated and then the funds distributed and the estate closed and the creditor did not make a claim, then it is may be too late for the creditor to collect payment.

I do not believe anyone has a duty to contact the creditor. But this is a question for an attorney who specializes in estates/probate court, and who is located in the state where the deceased person resided.
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Old 09-16-2018, 03:37 PM
 
Location: The Triad (NC)
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Quote:
Originally Posted by johnd393 View Post
A judgment from about 8 years ago exists against the deceased.
The judgement if fully paid would consume most of the assets.
That's too bad.

Quote:
The heir(s) were unaware of the judgement.
Good to know about it now in case there is a way to remedy it.
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Old 09-16-2018, 03:46 PM
 
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Estate procedure is just starting. Lawyer says we have to inform known creditors.
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Old 09-16-2018, 04:00 PM
 
Location: Florida
4,328 posts, read 3,662,211 times
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Quote:
Originally Posted by johnd393 View Post
Estate procedure is just starting. Lawyer says we have to inform known creditors.
That is correct. But what did the lawyer say about the statute of limitations? It maybe to late to file a claim. If it is then can you avoid sending a notice? The holder may also not file a claim. He will have to file proof for his claim and may not have it any more.
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Old 09-16-2018, 04:06 PM
 
Location: 5,400 feet
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Quote:
Originally Posted by rjm1cc View Post
That is correct. But what did the lawyer say about the statute of limitations? It maybe to late to file a claim. If it is then can you avoid sending a notice? The holder may also not file a claim. He will have to file proof for his claim and may not have it any more.

This is the key question. You need your attorney to look into the statute of limitations in your state for judgments. It varies among states. Some states also require that judgments be renewed from time to time, which may or may not lengthen the SOL. If the judgment is past the SOL or has not been renewed properly, then the judgment holder may not be a legitimate creditor required to be noticed.
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Old 09-16-2018, 04:35 PM
 
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I think it can time out in 10 years. Steps must be taken. It won't just disappear. Don't know if that applies to an estate. 10 years have not passed.
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Old 09-16-2018, 04:52 PM
 
Location: Florida
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Quote:
Originally Posted by johnd393 View Post
I think it can time out in 10 years. Steps must be taken. It won't just disappear. Don't know if that applies to an estate. 10 years have not passed.
I think some states require 5 years renewals, but now that you know the questions ask your attorney. Remember all Attornies are not experts in all areas of the law but this should be very easy for an attorney to check.
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Old 09-16-2018, 05:44 PM
 
Location: 5,400 feet
2,589 posts, read 2,559,528 times
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Quote:
Originally Posted by johnd393 View Post
I think it can time out in 10 years. Steps must be taken. It won't just disappear. Don't know if that applies to an estate. 10 years have not passed.

If the the judgment was valid against the decedent at the time of death, it is valid against the estate and the judgment holder must be notified. If the judgment was not valid against the decedent at the time of death, then it is not valid against the estate.
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