Creditor claims in California are a detailed and intricate part of probate law. If you fail to comply exactly as the rules state, you will lose any claim against the estate.
What is a Creditor Claim?
A creditor claim is any type of demand for a payment. It means if anyone owes you money and then that individual dies, you have to file a creditor claim. Creditor claims are for liabilities and debts incurred by the individual that died. It’s required to be filed in a probate court. It must also be served by a specific time to the representative of the decedent’s estate.
What is the Claims Procedure?
The creditors claim procedure can be invoked by filing notices in the newspaper. A notice can also be mailed to the creditor. There are different time stipulations for each regarding how long creditors have to file a claim. If any of these claims are not filed correctly with the trustee, the creditor may lose rights to the claim.
How is the Claim Approved?
After a claim is filed, the trustee has 30 days to deny or approve this particular claim. If the claim is denied, it’s necessary to act quickly if the creditor wants to file a lawsuit. Because of how complicated filing claims and understanding all aspects of the law can be, it’s crucial to have a lawyer. Our Coachella Valley probate attorney can help when it’s time to file a creditor claim.
