It’s difficult to wait for probate while debts go unpaid, but your patience might run out if an executor leaves things hanging to go on vacation. If your $60K inheritance is tied up and you’re stuck with a pile of credit card debt, you need to safeguard your legal rights and financial well-being as probate moves forward. Let’s explore how to get through this situation step-by-step.
The Executor’s Legal Obligations
The executor has a fiduciary duty to manage the estate in a timely fashion in the interests of the beneficiaries. Going on holiday without setting the probate process in motion can be a breach of that duty. Vacations aren’t illegal, but failure to do your job or prolonged delays can trigger legal measures by the probate court.
Request An Update In Writing
Before you fly off the handle and escalate matters unnecessarily, reach out in writing, either in an email or certified mail, requesting a clear update on the probate timeline and next steps. Written communication leaves a paper trail, and that’s important if you need to get the court involved. Don’t get heated, and keep the tone of your letters professional and factual.
File A Petition With The Probate Court
If the executor doesn’t get back to you, or delays are unreasonable, you can petition the probate court to compel action. This could include setting deadlines, requiring a formal accounting, or in serious cases, removing the executor altogether. Courts take beneficiary complaints more seriously when they’re supported by documentation.
Tackle Your Credit Card Debt
While the probate process grinds on, you can still deal with your credit card debt on your own. Contact your lenders and explain your situation. You may be able to negotiate reduced interest rates, lower payments, or a short-term forbearance to keep the balance from piling up even higher.
Resist The Siren Song Of A Personal Loan
It may be tempting to take out a personal loan to tide you over until probate is complete, but borrowing more at high interest can make things even worse. If you have to borrow, shop around and compare rates. Don’t even consider payday loans or cash advances, as these carry very high rates and harsh repayment terms.
Explore Debt Consolidation
If your credit score still allows it, look at consolidating your credit card balances into a lower-interest personal loan or balance transfer card. This can keep the interest from piling up while you wait for your inheritance to come in. Just make sure any balance transfer fees don’t wipe out any savings in interest you get.
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Sell Your Own Assets
If you own items of value outside the estate, like a vehicle you no longer use, collectibles, or electronics, selling these can give you the temporary breathing space to make minimum payments. This can help keep your credit score from plummeting down even lower before your inheritance arrives.
Record All The Executor Delays
Document any instances of missed deadlines, unreturned calls, or unreasonable absences by the executor. Courts require evidence over uncorroborated verbal accusations. A clear timeline of delays can build your case if you want to obtain a court order to get the probate show on the road.
Talk To A Probate Attorney
A probate attorney can examine the details of your case, draft the right petitions, and communicate directly with the executor or the court. If you do things properly, the court can order the executor to pay your legal fees from the estate if they’re ruled to have caused undue delays.
Focus On The Long Game
It’s difficult to see your inheritance tied up while your debt sits and grows, especially while grieving the loss of a parent. But jumping headfirst into poor financial decisions can leave consequences that reverberate far off into the future. Take constructive action with your debt, put steady legal pressure on the executor without losing your cool, and make sure you get your fair share when probate finally wraps up.
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