Paying creditors

jezebel

We've got probate finally and are in process of selling house and other assets and closing banks - at what point do you recommend settling debts?

Part of me wants to do it now, but am also aware of ongoing costs (maintenance/insurance etc) and likely costs for house sale so wondering if we should wait to settle it all at the end?

SkyeD

I'm in a similar situation - probate received this week, house on the market for sale, bank accounts closed, and now waiting for monies to be transferred over to me.  I'm going to pay bills as soon as I can... numerous invoices for care home fees.  My reasoning is that it'll be a huge weight off my shoulders when it's done.
There will be some cash leftover which I'll distribute to beneficiaries, but I intend to keep a small amount back just in case anything crops up that I don't already know about.  We're not talking huge amounts (except the care home fees!)
I think I just want to feel the relief after what's been an awful 12 months having lost both parents within 9 months of each other, having a house to clear, paperwork to sort out, probate to apply for etc etc.  
My parents were in credit with some utility companies... they don't seem to be rushing to send the overpaid amounts back in a hurry!  Good luck with whatever you decide  

Marcon

jezebel said:

We've got probate finally and are in process of selling house and other assets and closing banks - at what point do you recommend settling debts?

Part of me wants to do it now, but am also aware of ongoing costs (maintenance/insurance etc) and likely costs for house sale so wondering if we should wait to settle it all at the end?

Any of the debts racking up interest?

jezebel

Marcon said:

jezebel said:

We've got probate finally and are in process of selling house and other assets and closing banks - at what point do you recommend settling debts?

Part of me wants to do it now, but am also aware of ongoing costs (maintenance/insurance etc) and likely costs for house sale so wondering if we should wait to settle it all at the end?

Any of the debts racking up interest?

No, thankfully they froze the accounts etc on his death but worth considering,  so will check this is still the case.