Question |
Independent
Administration |
Dependent
Administration |
Guardianship
Proceeding |
When do I notify creditors? |
Within one month after letters issued. §§146, 294(a) |
Within one month after letters issued. §294(a) |
Within one month after letters issued. §783(a) |
What form must an unsecured claim take? |
No particular form required. |
Use statutory language supported by sworn affidavit. §301 |
Use statutory language supported by sworn affidavit. §§784, 788 |
When must a creditor present its claim? |
Anytime, unless in receipt of §294(d) notice letter. |
Before estate is closed; subject to §§:294(d), 298 |
Before guardianship is closed. §786 |
To whom is the claim presented? |
Independent Executor |
Dependent Administrator or deposit with the court clerk. §308 |
Guardian or deposit with the court clerk. §§786, 795 |
When must the P.R. object to claim defects, e.g., vouchers, exhibits? |
No statutory requirement to be followed. |
Administrator must object within 30 days of presentment. §302 |
Guardian must object within 30 days of presentment. §789 |
How do I bar an unsecured creditor's claim? |
Notify creditor before estate is closed per §§294(d), 146(a)(2) |
Notify creditor before estate is closed pursuant to §294(d) |
Notify creditor before estate is closed. §784(e) |
When must unsecured creditor respond to avoid a claim's bar? |
Within 120 days of receipt of notice. §146(d) |
Within 4 months of receipt of notice. §298(a) |
Within 120 days of receipt of notice. §784(e) |
When do I notify secured creditors? |
Within two months after letters issued. §§146, 295 |
Within two months after letters issued. §295 |
Within 4 months after letters issued. §784 |
What election(s) must a secured creditor make? |
Elect to be paid in due course of administration or select preferred debt & lien status. §146(b)(e) |
Elect to be paid in due course of administration or select preferred debt & lien status. §306(a) |
Elect to be paid in due course of administration or select preferred debt & lien status. §793(a) |
When must a secured creditor make the election? |
Within 6 months after letters issued or 4 months of §295 notice. §146(b) |
Within 6 months after letters issued or 4 months of §295 notice. §306(b) |
Upon presentment to the quardian. §793(a) |
How is claim treated when election is not made? |
Claim is treated as a preferred debt & lien. §146(b) |
Claim is treated as a preferred debt & lien. §306(b) |
Claim is treated as a preferred debt & lien. §793 |
When must the P.R. approve/reject the claim? |
No statutory time period. §146(c)(1)(2) |
When 30 days of presentment. §309 |
When 30 days of presentment. §796 |
What if P.R. takes no action? |
Creditor can sue whenever it elects. |
Claim is deemed rejected after 30 days. §310 |
Claim is deemed rejected after 30 days. §797 |
When must I file suit on a rejected claim? |
Anytime before the applicable S/L runs. |
Within 90 days after rejection. §313 |
Within 90 days after rejection. §800 |
Must the claim be classified before payment? |
Yes. Claim is classified pursuant to §§322, 146(a)(3) |
Yes. Claim is classified pursuant to §322 |
Not applicable |
How will my claim be classified? |
As one of eight classes. §322 |
As one of eight classes. §322 |
Not applicable |
What are the classes? |
|
|
|
Class 1 |
Funeral & last illness expenses not to exceed $15,000; excess expenses become a class 8 claim. §§146(a)(3), 322 |
Funeral & last illness expenses not to exceed $15,000; excess expenses become a class 8 claim. §322 |
Not applicable |
Class 2 |
Administrative expenses; preservation, safekeeping and estate management costs. §§146(a)(3), 322 |
Administrative expenses; preservation, safekeeping and estate management costs. §322 |
Not applicable |
Class 3 |
Any secured claim to be paid in the due course of adninistration, including tax liens and second mortgages. §§146(a)(3), 322 |
Any secured claim to be paid in the due course of adninistration, including tax liens and second mortgages. §322 |
Not applicable |
Class 4 |
A child support judgement. §§146(a)(3), 322 |
A child support judgement. §322 |
Not applicable |
Class 5 |
State taxes, penalties & interest thereon. §§146(a)(3), 322 |
State taxes, penalties & interest thereon. §322 |
Not applicable |
Class 6 |
T.D.C. costs of confinement. §§146(a)(3), 322 |
T.D.C. costs of confinement. §322 |
Not applicable |
Class 7 |
State reimbursement for medical costs. §§146(a)(3), 322 |
State reimbursement for medical costs. §322 |
Not applicable |
Class 8 |
All other claims, e.g., unsecured creditors. §§146(a)(3), 322 |
All other claims, e.g., unsecured creditors. §322 |
Not applicable |
How will my claim be paid? |
Executor may pay at any time subject to §§320, 321, 146(c) |
Claims are paid in the following priority (1) class 1 claims; (2) family allowance §286; (3) class 2 claims; and (4) class 3 - 8 claims. §§320, 321 |
Claims paid in following order (1) ward's expenses for care, maintenance and education, (2) administration expenses and (3) any other claim. §805(a)(b) |
