Does art count as an asset that can be used to pay a deceased person’s debt?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Does art count as an asset that can be used to pay a deceased person’s debt?
The art was made by the deceased and used to be sold but at the time of his death was not being sold or even copyrighted.
Asked on April 15, 2015 under Estate Planning, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
I am so sorry for your loss. you ahve asked very good questions here and I think that you should have a consultation with an attorney that deals in art and copyrighted works (if that is the avenue that you need to follow) and if the art has a value and can be sold, the Executor of Personal Representative can indeed sell it (barring constrictions of a Trust or Will) to pay off debt. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.