Does a Last Will and Testament Override a Promissory Note?

A Last Will & Testament may contain language that forgives indebtedness owed to the decedent by a third party, even if the indebtedness is confirmed through a written Promissory Note.

But if the holder of the Promissory Note is not a beneficiary of the assets of the estate, another solution is used.

If the estate owes money to someone not listed as a beneficiary in the Will and the Executor won’t recognize the Promissory Note (but usually does), the person holding the Promissory Note can sue the estate of the person who signed the note, and the parties fight it out in court.

Note that such an answer is provided without a full review of any personal documents, so whether or not the above statement applies to any specific personal situation is not something “Ask Standard Legal” can comment on without said full review.

That is why for advice specific to any personal legal questions, Standard Legal always recommends you consult an attorney; you can find a local law firm for FREE at Standard Legal’s Attorney Find page.