Full question:
I am executor to my deceased mothers estate. I was notified that a family member withdrew a $12000.00 advance from my mother's credit card account. As executor of my mother's estate, if cannot cover this, what personal liability will I have as the executor?
- Category: Wills and Estates
- Date:
- State: Pennsylvania
Answer:
As an executor, you are generally not personally liable for debts or claims against the deceased or the estate, unless you acted negligently or improperly. State law may hold you liable if you fail to manage the estate's assets correctly, including how funds are applied and distributed. If the estate is insolvent and cannot cover all debts, you must pay creditors in a specific order of priority. Failing to do so could make you personally liable to a creditor who should have been paid.
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