A little more information from my probate seminar given on Tuesday at the Sacramento Radisson. This section is on creditors claims and how the Administrator should reply to them. Let me know if you have any questions. -John
A. How to Respond to Creditors’ Claims
i. The name of the creditor;
ii. The total amount of the claim;
iii. The date of issuance of Letters;
iv. The date of the decedent’s death;
v. The estimated value of the decedent’s estate;
vi. The amount allowed or rejected by the PR;
vii. Whether the PR is authorized to act under IAEA;
viii. Statement that the creditor has three months in which to act on a rejected claim.
The Judicial Council form for allowing or rejecting a claim is attached as Exhibit JBP-8.
PRACTICE POINTER: I have had a probate attorney tell me that they reject EVERY single claim that is filed no matter what. Since very few creditors will take action against a rejected claim this type of action does have the possibility of saving the estate money. In this writer’s opinion that would be an ethical decision you will need to discuss with your client.