The Negative Estate
March 24th, 2009 by admin
When my cousin died he had almost no estate to settle. As my uncle was so distressed over his loss I agreed to step in and act as executor in the probate estate. As it turned out he had many more debts than could be covered by what he had. It was unfortunate but after we had inventoried everything he had we still came up with a substantial deficit. There was nothing going to be left for distribution to family members and what we did find was subject to the abatement statutes. All of his creditors got less than what they were owed and some received nothing for their claims.