Freedom Savings-Winter Park v. Kolman

At issue in this appeal is whether a claim based on a decedent’s guaranty of payment on a note is an allowable claim against the estate of the deceased guarantor where liability on the guaranty does not arise until after the statutory period for filing claims against the estate has expired. We hold that it is an allowable claim.

The parties stipulated to the essential facts in the court below. On March 10, 1981, the decedent, William Mackey, executed a guaranty in which, by its terms, he guaranteed payment at maturity of all indebtedness up to the sum of $100,000 of Marco Products, Inc.…