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Expenses of administering the estate

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Reference no: EM132420872

Typical Order of Priority

  1. Expenses of administering the estate. Without this preferential treatment, the appointment of an acceptable executor and the hiring of lawyers, accountants, and/or appraisers could become a difficult task in estates with limited funds.
  2. Funeral expenses and the medical expenses of any last illness.
  3. Debts and taxes have given preference under federal and state laws.
  4. All other claims, such as unsecured obligations, credit card debt, and the like.

Do the parties in category 4 have any recourse after other beneficiaries have been paid and all assets are gone? Are they allowed to pursue the executor of the estate?

Reference no: EM132420872

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