What Happens If We Do Not Know About Estate Debts? | NC

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Q: What happens if we do not know whether the deceased owed any debts when we start the estate? A: Usually, that does not stop the estate from being opened. The usual next step is to have an administrator appointed, gather information about the assets, and give proper notice to creditors. That notice creates a deadline for claims, so unknown debts have to be raised within the legal claims…