A creditor of decedent refers to a person or entity that is owed money or has a financial claim against someone who has passed away. This includes individuals who were personally owed debts by the deceased, as well as those who, through legal processes, acquire claims against the decedent's estate, such as administrators or executors managing the estate's affairs.
The term "creditor of decedent" is commonly used in probate law, which deals with the administration of a deceased person's estate. Creditors can file claims against the estate to recover debts owed to them. This process is essential in ensuring that debts are settled before any distribution of assets to beneficiaries occurs. Users may find that they can manage certain aspects of this process using legal templates provided by US Legal Forms.
Here are a couple of examples of abatement:
Example 1: If a person borrowed money from a friend before passing away, that friend is considered a creditor of the decedent and may file a claim against the estate to recover the owed amount.
Example 2: A medical provider who treated the decedent and is owed payment for services rendered is also a creditor of the decedent, entitled to submit a claim for reimbursement from the estate. (hypothetical example)
| State | Claim Filing Deadline | Notes |
|---|---|---|
| California | 4 months from the date of death | Claims must be filed with the probate court. |
| New York | 7 months from the date of death | Creditors must provide proof of the claim. |
| Texas | 4 months from the date of the first publication of notice | Notice must be published in a local newspaper. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Debtor | A person who owes money to another party. | A creditor of decedent is specifically related to deceased individuals. |
| Estate Administrator | A person appointed to manage the estate of a deceased person. | An administrator may also be a creditor if they have claims against the estate. |
If you believe you are a creditor of a decedent, you should:
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A creditor of decedent is a person or entity that has a financial claim against someone who has died.