Puerto Rico Compromise of Creditor's Claim against Estate by Payment of Cash and Conveying of Real Property

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US-02436BG
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Generally speaking, any creditors of a decedent at the time of his death can file a claim against the decedent's estate. The executor of the estate has a duty to pay any creditors that make a legitimate claim against the estate before distributing assets to the decedent's heirs. The process the estate goes through probate and how creditors are allowed to file claims is governed by state law.

This form is a settlement of certain claims against the estate.

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FAQ

A will, also known as a last will and testament, is a legally enforceable declaration of how a person wants their property and assets distributed after death. In a will, a person can also recommend a guardian for their minor children and make provisions for any surviving pets.

All real estate in Puerto Rico is subject to the probate system. This system is based on a "forced heir" policy, that states that all children need to receive from the decedent (the person that died).

--Any employer of a person dying domiciled in this Commonwealth at any time after the death of the employee, whether or not a personal representative has been appointed, may pay wages, salary or any employee benefits due the deceased in an amount not exceeding $10,000 to the spouse, any child, the father or mother, or ...

A Will is a written document outlining your choices about who will receive your property you own only in your name and how it will be divided when you die. If you have children under the age of 18, you can also name someone to be their guardian in your Will.

A will, or a last will and testament, is a legal document that describes how you would like your property and other assets to be distributed after your death.

A will is a legally enforceable declaration of how a person wishes his or her property to be distributed after death. In a will, a person can also recommend a guardian for your children and make other provisions that might be otherwise be left to the Court and Probate Judge.

A will is a legal document that sets forth your wishes regarding the distribution of your property and the care of any minor children. If you die without a will, those wishes may not be carried out.

Probate is when the court supervises the processes that transfer legal title of property from the estate of the person who has died (the "decedent") to his or her beneficiaries.

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Puerto Rico Compromise of Creditor's Claim against Estate by Payment of Cash and Conveying of Real Property