One of the primary responsibilities and obligation of an executor or administrator or personal representative of an estate is to pay claimants for debts owed by the estate. Such debts and claims are usually discovered in the course of the initial steps of an estate administration. In addition, such claims may have been formally presented to the Register of Wills as a result of the advertisement of grant of letters testamentary or letters of administration.
Before any creditor is paid, the executor or administrator should make sure that the estate is solvent. If the assets of the estate are insufficient to pay all proper charges and claims in full, the personal representative, subject to any preference given by law to claims due the United States and to claims of secured creditors who have liens or charges on the decedent’s real or personal property, shall pay such charges and claims in the following order.
Important Point To Keep in Mind: There is no priority as between claims in the same class.
The costs of administration
The family exemption
The costs of the decedent’s funeral and burial; and
The following items, services rendered or medicines furnished within six months immediately prior to the decedent’s death:
The cost of a grave marker.
Rents for the occupancy of the decedent’s residence for six months immediately prior to his death.
Claims by the Commonwealth of Pennsylvania and the political subdivisions of the Commonwealth of Pennsylvania.
All other claims.
If the estate is not solvent, and a creditor is paid more than he is entitled to receive, the executor or administrator can be held personally responsible to the extent of the overpayment. The personal representative also may be personally liable if he or she distributes estate property without having given proper notice to those having a claim against the estate.
“Steven has been providing outstanding legal advice to me for seventeen years. He is THE authority on estate planning and financial planning. Steven is a compassionate and thorough attorney who thinks of every possible contingency. He easily explains complicated issues, and it has been my pleasure to recommend him to my friends.”
Hiring Steven was quite possibly the best decision of my life! Steven took the time to hear every single one of my concerns and address them in an extremely clear, concise and thorough manner. He guided me through the notoriously complicated and stressful process of probate with the utmost of compassion and dedication. Thank you Steven!
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I have always found Steve to be very responsive, accurate and creative in legal matters presented to him. He demonstrates a good business sense. We have collaborated on several highly technical issues over the years. I look forward to our continuing relationship.
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Steve is an excellent attorney who has provided help for my family personally for business, tax, and other services for many years. He is extremely knowledgeable and thorough, and is extremely good at explaining legal concepts to me in clear terms understandable to a non-attorney. It is difficult to pick only three attributes above, since Steve’s work meets most if not all of the attributes above.
Steve is an excellent corporate attorney who has a deep understanding of corporate law, taxes and estate planning. He’s been extremely helpful to me in keeping my many companies and business ventures organized, focused and squeaky clean. He’s very strong in estate planning and wealth preservation as well. Finally, his follow through is air tight and utterly dependable.
Steven is a trusted adviser. We depend on him for so many things. He is patient, listens to our needs and makes excellent suggestions. He is extremely talented. We value his advice and have recommended him unhesitatingly to friends and family.
Steve Fromm is a superb lawyer and I highly recommend him! After a terrible experience with a previous lawyer concerning an estate administration, I entered his office feeling very deflated, confused and discouraged. However, I left his office feeling enthusiastic and eager to get down to business. My situation was very unique, I needed his expertise for an array of things and Steve was able to address all of my needs. With a limited timeframe and an extreme amount of obstacles to overcome he worked meticulously, diligently and accomplished extraordinary results. His professionalism is incomparable and I am forever grateful.
1420 Walnut Street Suite 300
Philadelphia, PA 19102
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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.