What Happens When an Estate Is Insolvent in Georgia?
Enter the estate's assets and the claims in each class of Georgia's payment order to see which claims are paid in full, which are paid in part, and which go unpaid, along with when the executor is personally liable.
Frequently Asked Questions
An estate is insolvent when the claims against it exceed the assets available to pay them. Georgia then pays the claims in 7 classes, in the order its statute sets, and the classes at the end of the order are the ones left unpaid when the money runs outO.C.G.A. § 53-7-40Verified Sep 23, 2026View source.
1. Year's support for the familyO.C.G.A. § 53-7-40(1)Verified Sep 23, 2026View source. 2. Funeral expensesO.C.G.A. § 53-7-40(2)Verified Sep 23, 2026View source. 3. Other necessary expenses of administrationO.C.G.A. § 53-7-40(3)Verified Sep 23, 2026View source. 4. Reasonable expenses of the decedent's last illnessO.C.G.A. § 53-7-40(4)Verified Sep 23, 2026View source. 5. Unpaid taxes or other debts due the state or the United StatesO.C.G.A. § 53-7-40(5)Verified Sep 23, 2026View source. 6. Judgments, secured interests, and other liens created during the lifetime of the decedentO.C.G.A. § 53-7-40(6)Verified Sep 23, 2026View source. 7. All other claimsO.C.G.A. § 53-7-40(7)Verified Sep 23, 2026View source.
Georgia's statute sets the rule class by class rather than one rule for every classO.C.G.A. § 53-7-42(a)Verified Sep 23, 2026View source.
A executor is not personally liable for the decedent's debtsO.C.G.A. § 53-7-21Verified Sep 23, 2026View source. Georgia's statutes state no rule on the executor's personal liability for paying a later class before an earlier class is paid in full or distributing property to heirs while claims are unpaid.
A person named in the will files a written declination with the court (O.C.G.A. § 53-6-12). Renunciation of Executor for Georgia
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