Is a property that is willed to someone exempt from creditors
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Is a property that is willed to someone exempt from creditors
My mother willed a condo to my brother. I understand that it is a probate asset as there were no beneficiares or second name on the deed but can creditors make me personal repsell the property. My mother resided in Florida but the condo is in Wisconsin.
Asked on May 4, 2016 under Estate Planning, Texas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
IF the property has already passed through probate and gone to the heir(s) before creditors filed a lawsuit, then the property is beyond their reach: it is no longer the property of the person they are suing (or her estate) when the initial their legal action. However, if the creditors sued either before the person died or after she died, but before the property was finally distributed to the heirs (e.g. while it was still part of her estate, pending distribution), then the creditors may be able to reach it: once a lawsuit is initiated, transferring the property may not protect it (since otherwise, a transfer could be used to defeat a legitimate lawsuit).
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