Insolvent estate

Inheriting an insolvent estate

If a loved one’s estate does not have sufficient assets to pay off all of its debts, you are faced with an insolvent estate.
Your next actions will determine and engage your personal responsibility. Speak with one of our trustees to figure out what to do and, most importantly, what not to do.

Are you in one of these situations ?

Debt-Ridden Inheritance

Did you inherit an estate and realize the deceased has left you with large debts ? Before accepting the estate, selling assets, collecting money from a bank account or transferring a vehicle, contact a Lemieux Nolet trustee.

Surprise Inheritance

The estate seems solvent, but have you calculated all the deceased’s tax debts ? If you are unsure of all that this involves, contact us !

Some seniors postpone bankruptcy until they pass away. During their lifetime, they manage to keep their heads above the water by making the minimum payments on their credit cards every month.

But after their death, everything goes to hell. The estate does not have enough assets to pay off the cards in full.

In addition, from the moment of death new debts are added : Paying the deceased rent for a few months. Paying for the funeral fees that keep adding up. If you are in this situation, Lemieux Nolet’s trustees can help you out.

Result : The estate is in the red. A very bad surprise for the heirs who are caught up in the problems.

A meeting that changes everything !

At Lemieux Nolet Insolvency Trustees, your first contact is with a Licenced Insolvency Trustee, not an advisor or a financial recovery councillor.

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1 866 858-4306

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