INSOLVENT ESTATES
When the estate does not have sufficient assets to pay all administrative costs and debts of the decedent, it is considered an insolvent estate. The estate expenses such as funeral costs and administration expenses are given priority over debts. NOTE: Some insurance policies and beneficiary designated accounts can possibly be sought to meet the estate's expenses and debts. See SCPA 1811.
See also EPTL 5-3.1
When the estate does not have sufficient assets to pay all administrative costs and debts of the decedent, it is considered an insolvent estate. The estate expenses such as funeral costs and administration expenses are given priority over debts. NOTE: Some insurance policies and beneficiary designated accounts can possibly be sought to meet the estate's expenses and debts. See SCPA 1811.
See also EPTL 5-3.1
