NY a child's rights before creditors take what they are owed

by Kelly
(Watertown, NY, USA)

If an estate is in the 10's of thousands of dollars and workers comp. is owed by the deceased can the minor child claim some of the assets before the creditors take there share? My daughter is 6 years old. Her dad dies a year ago. His sister has their mothers estate in her hands. My daughters father owed 50 thousand to workers comp and some other bills. Can my daughter lay claim to some of the money before the creditors take it? And if he had trucks, car, boat and 4 wheelers can my daughter have any of that before they take it?

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Jul 03, 2012
NY a child's rights before creditors take what they are owed
by: Debtcollectionanswers.com

Here is what happens when someone dies, regardless of the size of the estate they left behind. If that person wrote a will, then the executor of the will files it with the probate court to begin the probate process. During the process all of the deceased's assets and debts are inventoried and the executor notifies all of the deceased's creditors about the death so they can file claims to get paid from the assets.Once as many of the deceased's debts are paid as possible, which may require that some of the assets be sold, then and only then, are the remaining assets distributed to the individuals the deceased left them to in his or her will.

If the deceased died without a will, then a family member or someone else must ask the probate court to appoint an administrator of the deceased's estate. The administrator does the same things as an executor although he or she will distribute whatever assets remain to the deceased's legal heirs. Each state defines who the legal heirs are but typically, the surviving spouse gets all or most of the assets. So, if you end up with any assets that may remain after your husband's debts have been paid, you will be free to use them to benefit your daughter if you want.

Bottom line, no one, not even your daughter, gets any of the deceased's assets until your spouse's creditors are paid as much as possible. There is one possible exception however. Your state may provide for a family allowance during the probate process. This is money from the deceased's estate that is paid to help support the surviving spouse and any minor children until the process is completed.

If you have any questions, I recommend that you schedule an appointment with a probate law attorney in your area.

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