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Dallas, Texas 75240

Notify Creditors

Publish a Notice to Creditors in a Newspaper

Within one month from being appointed, the executor must publish a "Notice to Creditors" of the estate in a local paper of general circulation. This does not have to be in one of the main newspapers of the Dallas / Fort Worth metroplex. The Duran Firm handles the preparation of this notice for its clients.

Notify the Secured Creditors of the Estate

Within two months from appointment, the executor must also send notice of the executor's appointment to any secured creditors of the estate. The notice must be sent via certified mail, return receipt requested. An example of a Notice is provided below:

Example Notice to Secured Creditor
(Please call the Firm for the password)

Notify the Unsecured Creditors of the Estate (Maybe)

Section 308.054 of the Texas Estates Code gives an executor a powerful tool to knock out unsecured creditors' claims. Section 308.054 allows the personal representative to start a four-month statute of limitations on a creditor that has an unsecured claim for money against the estate by sending the creditor a specific notice. An example of a Notice is provided below:

Example Notice to Unsecured Creditor
(Please call the Firm for the password)

The creditors of the estate who hold valid claims against the estate are entitled to be paid before the beneficiaries receive any property under the terms of the will. Sometimes property needs to be liquidates in order to satisfy the claim. There are priority rules under the law regarding what property is sold to satisfy a particular claim. Please consult with your attorney before selling any estate property.

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