Philadelphia, PA -- (SBWIRE) -- 05/08/2013 -- Due to the economy these days, many people owe money to someone, and it’s difficult to live in the current society without accumulating at least some form of debt. When someone passes away and has debt to be paid, most of the time the debt will not be forgiven by the creditor or debtor. In some cases the debt may be negotiated, but it all depends on what occurs when the decedent’s estate goes through the probate process, and if the decedent has left enough money for their heirs to pay it off. To help people deal with this process, the attorneys at L & M Law, LLC, are now helping clients in Pennsylvania negotiate with creditors to settle the debts owed by the decedent as they are estate attorneys who can handle the probate process in Montgomery County, PA, Philadelphia, and the surrounding areas.
If someone passes away in Pennsylvania or New Jersey either with or without a will, creditors with valid claims will have priority over the heirs of the estate when it comes to its assets. In Pennsylvania, once Letters of Administration or Letters Testamentary are issued, the creditor has one year to bring a valid claim against the estate. This step is important to consider because if proper legal notice is given to the creditor, they may be barred from being paid from the assets of the estate.
At L & M Law, LLC, their estate attorneys can aid any clients who are faced with a creditor who has quickly filed a claim against a decedent’s estate to settle their outstanding debts. Additionally, their lawyers can aid clients in properly providing the notices to creditors as required by Pennsylvania or New Jersey law. To hear more about L & M Law LLC, and how they can help clients negotiate with creditors this spring, please visit http://www.lmlawllc.com, or call 800-564-3872 immediately.
About L&M Law LLC
L & M Law was founded on the principle that clients should have access to quality legal representation. They believe that each client is unique and deserves to be treated as such. L & M’s attorneys are passionate about what they do and they take tremendous pride in providing client-centric, value-driven legal services to their clients.