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Orlando Estate Planning & Probate Lawyer > VIDEO FAQS > PROBATE LAW > Do beneficiaries have to pay creditors out of their own pocket if the estate is insolvent?

Do beneficiaries have to pay creditors out of their own pocket if the estate is insolvent?

The answer to that is no. If there is an estate that is insolvent, meaning that the debts are greater than the assets, in that event, no one from a creditor standpoint is probably going to get any money from that estate, because whatever money is in the estate will have to be probated, and the costs of administration are paid first before anyone else can get anything, including creditors or beneficiaries. In summary, the answer is no.

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