Orlando Probate & Estate Administration Law Blog

Imagine you are part of a lawsuit in New York or California, and at the conclusion, you receive a significant monetary judgment. But the case took a long time to resolve, and the defendant has since moved to Florida. All their assets are now in the Sunshine State – meaning if you want to collect what you are owed, it has to happen in Florida.

Serving as the administrator of someone else's estate is in some ways an honor, but it is also often very stressful. You will have to fulfill financial and legal obligations on behalf of your deceased loved one while also dealing with the demands and wishes of their surviving family members and beneficiaries.

Sometimes, the people handling an estate overlooked a very important aspect of the process, which is the settlement of outstanding debts. Before you do anything else with assets from the estate, you have an obligation to creditors to repay them for money owed by your deceased loved one. Knowing which debts you must pay can help during the estate administration process.

As a parent of a special needs child, you likely have concerns about the care and protections your child will have in the future when you can no longer be there for them. Planning for the financial solvency and physical care of a special needs child is one of the many unique considerations that most parents don't have to ever worry about.

The creation of a special needs trust can give you peace of mind, as you know that your child will have the resources they need regardless of what happens to you. However, you also need to name someone as the trustee who will administer the trust and manage the funds on behalf of your special needs child.

Losing your parents at the same time or within months of each other is a very difficult situation to face. Handling your emotions is hard enough, let alone handling their estate. You may be at a loss of what to do, especially when you realize that they passed on when they were broke.

What do you do when your parents left a large amount of debt and not enough money and assets to pay it back? Do you have the responsibility to cover your parents' debts?