1.  Put It in Writing.  The creditor of a deceased debtor must file a Statement of Claim with the probate court in which the debtor’s estate is being probated.  The Statement of Claim must include a brief statement of the basis of the claim, including whether or not the claim has matured. 

2.  Racing the Clocks.  For creditors who are known (or should be known) by the personal representative, Notice to Creditors must be served on the creditors who then have 1 month to file their claims.  This time period only begins when Notice to Creditors is served.  All other creditors have 3 months after publication of the Notice to Creditors in a local newspaper to file their claims.

3.  Speak Now.  Two years after the death of debtor, no creditor can bring a claim against the estate, whether or not probate administration was opened or Notice to Creditors was properly published and served.  This is an absolute bar against even legitimate claims against the estate.

4.  Dead Man’s Suit.  When the defendant in a lawsuit by a creditor dies, the creditor must file a claim against the defendant’s estate in order to continue the lawsuit against the estate. 

5.  Objection!  The personal representative of the estate may object to claims filed against the estate within 4 months after publication of the Notice to Creditors.  If the creditor’s claim is objected to, the creditor must bring a lawsuit against the estate in civil court within 30 days.  If the personal representative does not timely object, it is presumed that the claims are valid.

6.  Going Broke.  Claims against the estate sometime exceed the estate assets available to pay all the claims (which includes revocable trust assets).  The Florida Statutes describe 8 priority classes for the payment of claims, beginning with the costs of administration and funeral expenses.  Claims must be paid in full according to their priority.  If there is not enough to pay all the claims of the same class, they are each paid a pro rata amount.  Lower classes are out of luck.

7.  Where’s My Money?  The personal representative is required to pay the valid claims against an estate within 1 year after publication of the Notice to Creditors.  However, the personal representative cannot be compelled to pay any claim until 5 months after the first publication date.

8.  Summary Administration Shuffle.  When an estate is eligible for probate by summary administration (generally, less than $75,000 in value), the Petition for Summary Administration must describe all of the known claims against the estate and how they will be paid.  Even if payment of a creditor’s claim is not included on the Order of Summary Administration, beneficiaries of the estate are liable to pay the claim from their share of the estate assets.

9. Self Help.  If a creditor knows that a debtor has died, the creditor can file a caveat with the probate court in the debtor’s resident county.  When the debtor’s estate is opened, the creditor will be notified.  If the debtor’s family does not open the probate estate, a creditor can file Petition for Administration to open probate administration itself.

10.  Interesting.  Until a creditor’s claim is paid by the estate, the creditor is an interested person.  This status requires that the creditor be kept informed about the administration of the estate.  For instance, the creditor must be served with a copy of the probate inventory.