Regardless of whether there is a will or not, when someone dies their property is distributed to the heirs and creditors. The process of distribution of property is called probate and in Idaho it is done under existing Idaho probate law which may or may not be the same in other jurisdictions.
If the person who died had a will, one of the components of the will is the naming of an executor. The executor is that individual tasked with the responsibility of seeing to it that the terms of the will are satisfied, this individual can be a member of the family of the deceased or a totally unrelated person. In the event the will was drawn up with the help and guidance of a lawyer, this lawyer can be extremely helpful in leading the executor through the legal steps necessary to probate the will, the lawyer’s fee will be paid from the estate.
There are several phases in probate; the first thing the executor must do is account for all the property and all the assets of the deceased. Following this, all creditors are advised of the death and are told that they have a very specific time window for them to present to the executor a full accounting of the debt. Once all of the creditors have provided their accounting, the estate pays these approved accounts from the assets, the remainder of the estate is distributed in full accordance with the terms of the will. In the event there is no will, it is the state that determines how the distribution of assets is made in accordance with law.
Idaho probate law usually specifies that probate is to be completed in a specific period of time, six months for example. During this period of time, any and all creditors must present their accounts to the estate, not to the heirs of the deceased. There are many examples of creditors which are known to be unscrupulous presenting their accounts to the heirs in hopes of collection, in the event heirs receive any demands for debt settlement they are advised to contact the executor immediately. In the event the debt is in excess of the estates assets, it is the court that will determine how the available funds are to be distributed to the creditors. In this case, there is no legal obligation on the part of the heirs to pay any outstanding debt that cannot be covered from the assets of the estate.
If you are looking for an attorney that is completely comfortable with all the nuances of Idaho probate law then you are invited to contact Finch-O’Neil Law Office.
