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Probate - loans

1 reply

countrysidefields · 15/05/2024 07:08

Am after some advice about loans being paid back following a death.

My father passed away in September 23, I was the only executor for his estate and probate granted in my name in March this year.

My dad had 3 small personal loans and I informed all 3 in October 23 that he has passed and forwarded on the death certificate. They all emailed back and said they would be in touch regarding the account. This was October last year.

Only 1 company has chased for the money since then which I have paid using money from the estate. I have heard nothing from the other 2 companies.

Is there a statutory time for them to contact and claim the money from the estate or can I assume that they won't chase seeing as it's been over 6 months since they were informed?

OP posts:
Soontobe60 · 15/05/2024 07:11

The assumption is that now probate has been granted any debts have to be cleared before any beneficiaries can be paid out. As executor you are responsible for the debts to be paid. If you fail to do so, distribute the estate and they then come after payment, you would be held liable. Just pay them off.

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