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RayAnswers
RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 37001
Experience:  Texas lawyer for 30 years in Estate law
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Is there a statute of limitations open estate?

Customer Question

Is there a statute of limitations for an open estate?
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.
Hi and welcome to JA. I am Ray and will be the expert helping you today. In SC, when a will is probated (or there is no will to probate)the Personal Representative a appointed by the Probate Court according to the SC Probate law. His second duty as Pers Rep is to run an advertisement in a newspaper of local circulation stating that the estate is open to receive claims against the estate. That ad must run three consecutive weeks. All creditors must file a claim within 8 months of the running of the first ad or have no right to make a claim. Depending on when the ad was published, the time period of 8 months could run over the one year anniversary of the decedent's death. After the 8 months have passed, the Personal Rep could pay off the claims against the estate, distribute to the heirs, and file a final settlement with the Probate Court. If the probate hasn't closed then the claims are still pending and there is no SOL in South Carolina until the estate has been closed.If the claims here were not filed timely then they can be denied by the PR otherwise they remain until paid or resolved.If the estate becomes insolvent the court can close it. I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.
Customer: replied 1 year ago.
If the estate is so old that the claims against the estate cannot be resolved by the claimants what happens to the estate?
Expert:  RayAnswers replied 1 year ago.
It is insolvent if there are no assets left to pay anybody.You could write the probate judge and have the estate closed as insolvent on this basis.That would end it and any liability to the personal representative/executor.
Thanks for the follow up.

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