Raimondo Has Been Named as Executor of His Father's Estate

True/False

Raimondo has been named as executor of his father's estate. Raimondo's father was a very wealthy man who had made a lot of money in real estate and then reinvested his money in mutual funds and other long-term investments. This left few of his finances in a position to be quickly liquidated. Since his father's death, bills have been piling up and creditors are starting to knock on his door. Raimondo has decided that, because there is no way to utilize his father's money in the near future, he will pay the debts out of his own pocket and be reimbursed later from his father's estate. Raimondo is allowed to do this but must clearly state the intention in writing as outlined in the Statute of Frauds.