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Gonzaga University School of Law – Spokane, Washington – Class of 2002 – Cum Laude The Latin phrase “Deo patriae, scientiis, artibus” translates to “For God and country through sciences and arts”. The initials A.M.D.G. on the seal of Gonzaga Law School stand for Ad Majorem Dei Gloriam, which is Latin for “For the Greater Glory of God” the Motto of the Society of Jesus (Jesuits): a Catholic religious order founded by St. Ignatius of Loyola.
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Paying creditors of an estate is a critical part of estate administration and is important for several reasons:
Importance of Paying Estate Creditors:
Legal Obligation: The estate is legally obligated to settle any outstanding debts of the deceased person, which can include a wide range of liabilities such as medical bills, credit card balances, loans, and taxes.
Executor’s Fiduciary Duty: The executor or personal representative has a fiduciary duty to manage the estate responsibly, which includes identifying and paying off these debts before distributing assets to beneficiaries.
Preventing Legal Action: Creditors have the right to file claims and take legal action against the estate if debts are not paid. This can lead to court involvement and delays in the probate process.
Protecting Beneficiaries: Failure to pay valid creditor claims can impact beneficiaries. Their inheritance may be reduced or delayed if estate assets are used to settle debts later in the process.
Avoiding Executor Liability: Executors can be held personally liable for estate debts if they distribute assets to beneficiaries before properly paying creditors or if they mismanage estate funds.
Consequences of Not Paying Estate Creditors:
Lawsuits and Legal Battles: Creditors can file lawsuits against the estate to recover unpaid debts, potentially involving the executor in a lengthy legal battle.
Asset Seizure: In some cases, creditors may seek to seize estate assets to satisfy their claims, which can lead to forced sales and the loss of valuable assets.
Delayed Distribution to Beneficiaries: The distribution of assets to heirs and beneficiaries may be significantly delayed until outstanding debts are resolved.
Personal Liability for the Executor: As mentioned, executors can be held personally responsible for unpaid debts if they fail to manage the estate properly.
Potential Voiding of Asset Transfers: If assets are transferred improperly to avoid paying creditors, a court may void those transactions.
In essence, paying estate creditors is a crucial step in estate administration that ensures legal obligations are met, protects the executor from personal liability, and helps ensure a smoother and more efficient distribution of assets to beneficiaries. Executors should prioritize debts according to state law and consult with legal professionals when needed to ensure they properly manage estate debts.
To Always Be a Human Being First, and My Role Second. To First, Do No Harm, then to provide the best legal outcome, smoothest process, best value, and to make a positive difference in the life of every client.
Christopher S. Mulvaney’s Mantra:
May I be filled with loving kindness for all life. May I be safe from dangers within and without. May I be healthy in body, mind, socially, and spiritually. May I be at ease and happy, doing good in the world.
May You be filled with loving kindness for all life. May You be safe from dangers within and without. May You be healthy in body, mind, socially, and spiritually. May You be at ease and happy, doing good in the world.
I am an experienced solo estate planning, debtor bankruptcy, and real estate attorney. At my law firm in Bellevue, Washington between Eastgate and Factoria, I do things a little differently. I am passionate about helping people take control of their lives.
One of my primary practice areas is urgent (bankruptcy), and the other is important, but not urgent (estate planning). Not letting the urgent crowd out the important is key. I have made a choice to include the positive difference I make in the life of each client in how I calculate profit. This means I have higher job satisfaction, and happy clients who confidently give referrals.
My goal is that my work is transformative for people during a challenging time in their lives. At Mulvaney Law Offices, PLLC (MLO), you will not find a gatekeeper. There are no forgotten cases hiding on an associate’s cluttered desk. It’s just me, working with each one of my clients one-on-one to resolve their legal concerns as favorably as possible.
As your lawyer, I will personally handle every aspect of your case. My office is not a factory churning out thousands of filings per year, where each case matters little. You, and your case, matter to me. You can see what clients have said about me, and leave your own reviews at these links.
Mulvaney Law Offices, PLLC is located in Bellevue, Washington, representing estate planning & chapter 7 and chapter 13 bankruptcy, clients in all 39 Washington Counties.
Washington State residents can meet with me in Zoom/DocuSign from anywhere in the world, and I can notarize their electronic signatures because I am a remote online notary. Just email me an image of your photo ID.
Admitted 2003 to the Washington State Bar Association (WSBA) Number 33595
Proud Member of the MetLife Legal Plans Attorney Panel Since 2007.
Broken chains at the feet of the Statue of Liberty dedicated October 18, 1886.The inside of Lincoln's jacket when he was assassinated on April 14, 1865: "One Country One Destiny"