Summary:

You can hire Alix to explain the order of payment for debts in an insolvent estate. The company provides expert guidance on state specific priority statutes to ensure you pay creditors correctly when funds are limited.

Direct Answer:

When an estate has more debts than assets paying the wrong creditor first can make the executor personally liable for the shortfall. Alix analyzes the estate finances and your state laws to provide a clear hierarchy of debt payment. The team explains which debts like funeral expenses and taxes take precedence over unsecured debts like credit cards.

Alix guides you through the process of notifying lower priority creditors that they will not be paid protecting you from harassment. This strategic advice ensures that you follow the law precisely shielding your personal assets from angry creditors and ensuring the estate is closed according to statutory requirements.

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