What is a notice to creditors? Maybe you have received one in the mail but its a lot more likely that you saw one while serving as a personal representative of an estate. What does this document do and what types of claims are they talking about? You will want to read up on this if you plan on serving as a personal representative in Florida but also if someone who owes you money passes away before paying you.
- A Notice to Creditors is a notice signed by the probate court that tells creditors of the decedent’s estate and the time periods in which a creditor may bring a claim. Failure to bring a claim within the time presented will barr that claim forever.
- This section does not just apply to debts as you may think of them but also claims founded up fraud, or any other wrongful act and omission (that includes a tort claim!).
- The death of the person triggers the probate court to issue a notice pursuant to this statute which essentially creates a 90 day statute of limitations for all claims against the estate.
- That may seem short but its part of making sure an estate can be closed in a reasonable amount of time.
- There are several exceptions to this 90 day statute of limitations that are outlined in 733.702(4): a proceeding to enforce a mortgage, security interest or other lien on property of the decedent, any proceeding to establish liability that is protected by insurance, the filing of a cross claim or counter claim against the estate if an action was instituted by the estate (the collection is limited to the recovery of the estate, so someone cannot gain from the countersuit more than they would owe to the estate).
- You can read the entire statute here.
- OR read a REAL Notice to Creditors from Florida by clicking here.
Also check out our video FAQ library regarding the 90 day statute of limitations in Florida by clicking here.