I am sorry to hear about your situation. Your questions raise some complex issues so simple emails are not appropriate as I would need additional information. What are the assets? What are their value? Will you be paying an attorney? Etc.
Our firm has many years of experience in this field.
I wish you the best of luck.
Please remember that I do not normally monitor these questions after I have posted a reply but you can contact me as indicated below.
Complimentary phone consultations
Greenberg & Merola, LLP
Attorneys at Law
521 5th Ave. Ste. 1700
New York, NY 10175
(212) 593-6111, facsimile (516) 887-1720
(Additional offices: Brooklyn, Queens, Long Island)
A formal accounting before a court will be more expensive process compared with an informal accounting to settle a trust, due legal expensive and greater due diligence of a formal accounting.
THIS ARTICLE IS PURELY INFORMATIONAL AND CAN NOT BE RELIED UPON AS LEGAL ADVISE OR CONSTITUTE LEGAL ADVISE FROM... more
THIS ARTICLE IS PURELY INFORMATIONAL AND CAN NOT BE RELIED UPON AS LEGAL ADVISE OR CONSTITUTE LEGAL ADVISE FROM THE AUTHOR.
To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you that any U.S. federal tax advice contained in this communication (including any attachments), unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any matters addressed herein.
It also depends on the type of assets, the number of assets involved and the time frame being covered. The more complex the higher the fee for attorney services.
When you notify creditors you may want to attempt to try to negotiate a reduced amount to setle the matter. When there is a death, some creditors are willing to settle for less especially if the estate is not liquid. You should probably have an estates attorney assist you in this and the estate administration generally. For an idea creditor priorities in another state, please see the article PA Probate: What Debts Take Priority at the following link: http://www.sjfpc.com/PA_Probate_Law_Section_339....
Hope this helps. If you like this answer and have a Google account , please hit the +1 sign above. It takes just a second to do this and it would be most appreciated and would help others. Thanks.
Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is email@example.com , his website is www.sjfpc.com. and his blog is
Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia... more
Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is firstname.lastname@example.org , his website is www.sjfpc.com. and his blog is
Mr. Fromm is ethically required to state that the response herein is not legal advice and does not create an attorney/ client relationship. Also, there are no recognized legal specialties under Pennsylvania law. Any references to a trust, estate or tax lawyer refer only to the fact that Mr. Fromm limits his practice to these areas of the law. These responses are only in the form of legal education and are intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received.
By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question.
Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.