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-   -   Opening an estate - possible issues? (https://forums.maxperformanceinc.com/forums/showthread.php?t=711875)

gman26 10-23-2012 08:17 PM

Opening an estate - possible issues?
 
My brother passed away a couple months ago, he had a legal guardian and was a patient in a rehab center, in Illinois. He ended up losing everything before he passed; he was not married, had no kids, no house, probably a lot of bills. He had lost his leg, due to Necrotizing fasciitisa (flesh-eating disease). He got laid off and ended up losing his insurance.

He found an attorney and opened a workmans comp case, however, since his death, the state is only offering $20,000. The lawyer suggests opening an estate, with me as the executor. The lawyer will get his cut, about $4,000 and I will get the rest. I need to sign papers to get this estate opened.

You guys think his creditors will come after me, even after the estate is closed?
I have been wondering, if I sign papers to open the estate, if it's possible for creditors to come after me?

Formulabruce 10-23-2012 09:11 PM

His creditors have right to show up at the estate closing, and it will be posted in the newspapers and online...If you think that could happen, better have the Atty up the "ante"

fiedlerh 10-30-2012 11:14 PM

An attorney should also search for any other assets (bank accounts, property, pensions, 401K, etc.) he might have had. Did the legal guardian have POA over all his assets?

mechanickeith 10-31-2012 02:10 AM

Quote:

Originally Posted by fiedlerh (Post 4767388)
An attorney should also search for any other assets (bank accounts, property, pensions, 401K, etc.) he might have had. Did the legal guardian have POA over all his assets?

Also,,,if the guardian did have a POA over his assets, a complete independant audit needs to be done to ensure nothing was done improperly!!!

Deadhead 11-09-2012 01:15 PM

You'd need to know exactly how much debt was out there in order to answer the question. Does not take much to wrack up $16k in debt. Especially with known medical condition and under care. Probably be best to let it go.


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