Advanced Funding Assignment on Heir of an Estate

[Yuri]

Jurisdiction

Indiana

Well, let me break this down.

Myself and 3 other siblings are sole heirs in my mothers Estate. The Estate accounting is not quite wrapped up yet, but each heir will be receiving right around $135,000 each.

One of the Heirs (the sister) had assigned her interest in the Estate to one of those inheritance advance funding companies. She got $60,000 and her fees will be $35,000, grand total of $95k owed to the advance predator company. this assignment was filed with the court and was to be paid to them when Estate fully settled

Early last week, the Executor of the Estate released to each Heir $100,000, including the sister who's dealing with the loan advance predators. All heir's 'cashed' their checks into their respective banks. So, this leaves in the Estate $35,000 for each heir, including the sister.

Now, my math shows that the Advance Co. is owed $95,000 via their assignment on my sister, which 'walked' due to action of the Executor. So....the only money left in the Estate to be settled is $40,000 ($55,000 shy of what's owed to Advance Co.).

My question to you all is, when the Inheritance Advanced Funding Co. finds out the $95,000 assigned to them got backdoored to their client and she only now as about $40,000 left in the Estate, what kind of fireworks are the rest of the heirs going to see regarding the Funding Co., the Sister and the Executor?

 

[Tax Counsel]

Well, let me break this down.
My question to you all is, when the Inheritance Advanced Funding Co. finds out the $95,000 assigned to them got backdoored to their client and she only now as about $40,000 left in the Estate, what kind of fireworks are the rest of the heirs going to see regarding the Funding Co., the Sister and the Executor?

I think you've already asked that question in another forum and the answer here will be the same. The estate would be liable to the creditor if there was a perfected lien filed with the estate to attach the sister's share and the estate personal rep may be personally liable for that. If the personal representative has a bond, the assignment company may be able to collect on the bond. The estate personal rep may be able to go after the sister to recoup what the estate owes to the assignment company. But what the estate and assignment company cannot do is go after the other estate beneficiaries. The assignment company's lien would not attach their share of the estate and, having already received their share of the estate, they are out of the picture here. Whatever the ensuing fight between the personal rep, the sister, and the assignment company, the others aren't a party to that.

 

[justblue]

I think you've already asked that question in another forum and the answer here will be the same. The estate would be liable to the creditor if there was a perfected lien filed with the estate to attach the sister's share and the estate personal rep may be personally liable for that. If the personal representative has a bond, the assignment company may be able to collect on the bond. The estate personal rep may be able to go after the sister to recoup what the estate owes to the assignment company. But what the estate and assignment company cannot do is go after the other estate beneficiaries. The assignment company's lien would not attach their share of the estate and, having already received their share of the estate, they are out of the picture here. Whatever the ensuing fight between the personal rep, the sister, and the assignment company, the others aren't a party to that.

This is the one you are thinking of TC. It's not quite the same and a different state.

How do I notify Lender to NOT put a lien on my property?

 

[zddoodah]

You're question is vague and unanswerable. Among other things, the answer depends on when and how the loan company finds out about the executor's ill-advised early distribution. The executor should be discussing the matter with his/her attorney ASAP (and, if he/she doesn't have an attorney, as I suspect is the case, he/she needs to hire one).