In Florida case of Lauritsen v. Wallace son must pay on promissory note despite debt forgiveness in father’s will. Such debt foregiveness cannot trump the rights of creditors to the estate.
While some heirs have emotional attachment to certain stock holdings, investments are fungible and it’s usually more efficient for estates and trusts to distribute cash.
Attorney Margolis of Margolis & Bloom in Wellesley, MA, discusses the difference between tangible and intangible property in a will. Call 781-705-6400.
FairSplit.com facilitates the distribution of tangible personal assets from estates. Margolis & Bloom blog from Wellesley, MA. Phone number 781-705-6400.