West Palm Beach probate litigators know that it is not just about the heirs. Creditors in West Palm Beach need to know how to secure their debt even upon death of a debtor. It may be time to file a caveat in the probate court; do you know what that is?
Probate Court Creditors
- When someone dies the estate is formed and the personal representative takes control of the estate to administer probate.
- The assets are collected, creditors are paid and then heirs get the left over as aninheritance.
- So how do you know to collect your debt before the heir gets paid?
- Do you think an heir is going to relinquish the inheritance after the check has been cashed? Think again.
- If you are an obvious creditor you may have nothing to worry about for example the hospital where a person spent his last days is obvious to any probate court.
- What about an old time friend though who has a promissory note from years ago?
- You may have more trouble.
- Did you know that when someone dies in West Palm Beach the personal representative has to publish a notice in the newspaper?
- This is meant to alert creditors.
- Once you know about the person’s death though how do you keep track of the case?
- For large creditors it seems rather tedious to check the probate dockets daily.
- This is where filing a caveat comes in.
What is a probate caveat?
- A caveat is something that is filed with the West Palm Beach probate court that tells them you want to be on record of activity in the probate case.
- Creditors and potential beneficiaries can both file these.
- Interestingly the heirs and beneficiaries can file these prior to a person’s death but a creditor cannot.
- When you are a creditor and you become aware of a debtor’s passing you may be able to file a caveat in West Palm Beach probate court to protect your claim.
- How do you know which papers to look for publications of recent deaths that may effect your ability to collect a debt?
- How long do you have to file a caveat in West Palm Beach?
- Experienced Palm Beach probate litigators know where to look, where to file and how to protect your rights to a payday.