Creditors have four to six years to make claims against an estate in Pennsylvania, according to attorney David M. Frees III. By law, an executor of an estate must be advertised in local newspapers so creditors can rightfully see if someone's estate owes a debt. Depending on the type of claim, the statute of limitations varies.Continue Reading
Creditors have four years to claim part of an estate if there is a sale of tangible personal property. Wolf, Baldwin and Associates explains this statute of limitations may be extended if someone moves out of Pennsylvania. A five-year limit is imposed upon claims against any implied or resulting trust as to real property and any specific contract for the sale of real property. Any statute of limitations not specifically set forth in the law expires after six years have elapsed, so creditors have a maximum of six years to try to collect money.
Executors of estates must handle all claims made against them. Executors need to notify creditors, ascertain what debts were valid at the time of death and keep an accurate accounting of an estate's value against its debts. The Martin Law firm explains if these duties are not strictly met, personal liability claims may be made against an executor of an estate for failure to comply with Pennsylvania probate law.Learn more about Credit & Lending