Related Definitions
What is a Creditor Claim?
A claim made by a creditor against the estate of a deceased person to recover debts owed.
A legal claim filed by an individual or entity that is owed money by the decedent’s estate. Creditors have the right to be paid from the estate’s assets before distributions are made to beneficiaries. In probate litigation, disputes may arise over the validity or timing of creditor claims, especially if the estate’s assets are limited or if claims are filed after the statutory deadline. Executors must prioritize and settle these claims according to state law.
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Insights and advice on trust and probate estate litigation from our blog.
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