Other Family Issues
questions & answers
Question: My mother died and my brother owed her money. There are notorized copies of the loan agreement. Can I collect on behalf of her estate?
Answer: The loan agreement or Promissory Note is an asset of the estate of the deceased. The Probate Court (with or without a Last Will) eventually determines who is entitled to the proceeds of the Note (repaid funds). The court-appointed Personal Representative of the estate is charged with the duty to gather the assets of the estate, for the Court’s later distribution. (A.R.S Title 14, Chapters 1-3)
The foregoing assumes the estate is not small enough (in total value) to qualify for “Informal Probate” (A.R.S Title 14, Chapter 3, Article 3)
QUESTIONS
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My mother died and my brother owed her money. There are notorized copies of the loan agreement. Can I collect on behalf of her estate?
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