The seventh mistake executors make is failing to advertise the estate administration. The law requires that the appointment of the executor and the existence of the estate be advertised. One reason this is done is that if there were debts owed, that the creditors would come forward and make their claim. This is important because if you do not advertise in your local newspaper and in the legal newspaper for your county you can be liable for many years after you have distributed the assets. In essence if you do not advertise you are held liable for any outstanding debts that come to fruition. Make sure you advertise your estate administration so years from now you do not wind up owing money that you no longer have.
For more information on this topic click here.
David M. Frees III Esq.
610-933-8069
For up to the minute news about estate, asset, and wealth protection planning
and for weekly tips to make your planning work follow David Frees on Twitter
David on Twitter.
