Probate Administration (back)
My mother died yesterday. She appointed me as Executor of her estate. Her debts exceed her assets. Will I be held personally responsible for her debts?
No. You are only responsible if you are a guarantor of the debt or a co-signer on the debt instrument.

Is it true that estates must be opened for years?
A probate estate must be opened for at least four months from the time Notice to Creditors begins to run in the local newspaper. After that, an estate can be closed when all assets have been collected, all creditors paid, and the tax release letter received from the Tennessee Department of Revenue. If all of the estate issues are resolved at the end of the four (4) months or shortly thereafter, then the estate can be closed. Many estates that do not have to pay inheritance taxes, and that are not involved in litigation, can and should be closed within four to twelve months from opening. Larger estates that must pay inheritance taxes, estates involved in litigation and contested estates may require years to complete probate. However, the prolonged estates are not necessarily the norm nor do they have to be.