Estate Debt Settlement Lawyers in Northern Virginia
Northern Virginia Attorneys
Advising Executors in Debt Settlement
The trusts and estates lawyers of northern Virginia’s HALE BALL MURPHY, PLC Carlson Baumgartner Murphy, PLC represent executors and other personal representatives in settling debts with creditors. Before an estate’s assets can be distributed to the intended beneficiaries, all creditors who have a claim against the estate must be heard and then claims settled. Our estate lawyers guide personal representatives through the process of evaluating and, when necessary, disputing questionable claims from creditors. If you need assistance with administering an estate or the probate process in Virginia, contact our office to schedule an initial consultation. Our attorneys are skilled to handle any type of estate or trust, including non-traditional trusts like resulting and constructive trusts. Probate and Debt Settlement in Virginia
Most estates have accumulated some sort of debt, whether it comes from a mortgage, car loans, student debt or other sources. Virginia has a process for determining the rightful debts of the estate. The Commissioner of Accounts in the city or county where the estate is probated oversees the settlement of debts. A personal representative initiates the process by requesting a “Debts and Demands” hearing from the Commissioner. The Commissioner will publish notices of the hearing. The personal representative notifies the claimants whose debts are being disputed. At the hearing, the creditors may provide proof of debt, and the personal representative may provide evidence that a claim is invalid or unenforceable.
The experienced probate attorneys at HALE BALL MURPHY, PLC help personal representatives identify debts that may be invalid or unenforceable. We can help you prepare for a debts and demands hearing and be by your side during the hearing.
Protecting Executors of Insolvent Estates
Some estates – even those with considerable assets – have more debts than funds available to pay the creditors. Personal representatives of these insolvent estates must be particularly careful. Virginia law sets the priority for paying off creditors in an insolvent estate – and offering some protection to the surviving spouse and minor children. A personal representative who rushes to pay off the credit cards immediately may find themselves personally liable for that payment.
With more than fifty years of combined experience, the professional probate attorneys at HALE BALL MURPHY, PLC Carlson Baumgartner Murphy can help you use the Debts and Demands hearing to protect yourself. Speak with a debt settlement attorney or estate planning attorney today.
Professional Probate Attorneys in Northern Virginia
If you are the personal representative of a Virginia estate that you believe has outstanding debt, contact one of our professional probate attorneys. Do not let creditors decimate your family member or friend’s estate.
To schedule an appointment with a seasoned, professional estate planning and debt attorney, contact one of North Virginia’s top estate planning law firms at 1-703-591-4900.
Since 1980 the AV-rated law firm of HALE BALL MURPHY, PLC has served the legal needs of individuals and businesses. Our team of attorneys include lawyers named to Super Lawyer and Rising Star lists, as well as attorneys with advanced legal degrees, specialty certifications and lawyers who teach their areas of practice to other lawyers.
Use the contact form on this page to schedule a consultation, or call 703-591-4900.
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We will use the information you provide on this form to connect and schedule a consultation with you to go over your legal needs. The transmission and receipt of information contained on this website, in whole or in part, or communication with the HALE BALL MURPHY, PLC via the Internet or e-mail through this website does not constitute or create a lawyer-client relationship between this firm and any recipient.