Priority of claims Flashcards

1
Q

Class 1 claims

A

related to the expenses of estate administration, personal reps and attorneys

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2
Q

Class 2 claims

A

expenses of decedent’s funeral and grave marker, not to exceed $6,000 (if funeral expenses are higher, the rest would be considered class 8 claims)

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3
Q

Class 3 claims

A

debts and taxes that have preference under federal law and certain other claims such as those for recoupment of Medicaid benefits

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4
Q

Class 4 claims

A

medical/hospital expenses related to the last 60 days of decedent’s illness

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5
Q

Class 5 claims

A

family allowance authorized in Fla. Stat. § 732.403 to maintain certain family members during the estate’s administration (capped at $18,000)

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6
Q

Class 6 claims

A

any court-ordered child support arrearages

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7
Q

Class 7 claims

A

business debts incurred during administration (not to exceed the amount of business assets)

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8
Q

Class 8 claims

A

all other claims

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9
Q

What if the estate is insufficient to satisfy all claims?

A

Fla. Stat. 733.707(2) – if estate is insufficient, pro rata share to everyone

Fla. Stat. 733.607(2) – if estate is insufficient, PR can be paid out of a revocable trust

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