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Is an adult child responsible for the debts of a deceased parent when they have joint ownership of a home?
Answer The home could be in jeopardy for creditor action depending upon how the deed is worded and the laws of the state in which the property is located. … It would be prudent to discuss the possibility of the mother removing her name from the property deed with a qualified attorney before creditors decide to take action. Other than the possibility of joint property seizure or attachment by creditors surviving family members would not be responsible for repayment of the debt.
Answer No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
maybe yes due to the fact that they are your parents but sometimes depending if child has life insur. they sometimes do not have to pay.
Open an estate with the probate court. Request to be appointed as the executor. The court will issue a letter of authorization that will allow you to cash the check on behalf …of the estate.
Anyone living in such a home has only the rights granted by the heirs who acquire the home under the local statutes of intestacy. If they want you evicted immediately, they ca…n obtain a court order to do that. If they want to charge you rent, or long-term lease, they can do that. If they want to give you the right to stay there for "free" for the rest of your life, they can do that. Your only "rights" would be those provided in state law for any other "tenant at will", such as 30-day notice to get out. Another Perspective/ClarificationIf the last parent died intestate their property will pass to their heirs at law according to the state laws of intestacy. If there is more than one child, all will inherit an equal share of the property as tenants in common. In either case the estate must be probated in order for title to lass legally to the heirs. Any estate that contains real estate must be probated in order to establish title and the estate should be probated immediately. All the heirs at law have an undivided share in the property so each has the right to the use and possession of the whole property. However, once an administer for the estate is appointed they will have authority over the assets and responsibility to settle the estate. Arrangements could be made for the child who resided with the parent to continue living there, however, the family must come to an agreement and the child will need to pay their own expenses. You need to probate the estate and consult with an attorney who can review your situation and explain your options.
Is an adult child entitled to a share of property and money after one parent dies and other parent is still alive when the deceased parent did not have a will?
Possibly, depending on the laws of that particular state, the value of the estate and how the married couple's assets were held. A lot of "if"s, but there's no other way… around it. As to laws some states provide for an apportionment of assets of a person between the spouse and the children. In many cases a spouse may get the first certain percentage of the estate or dollar amount, then the rest is divided in some way. Some states also give the spouse a specific minimum percentage, in NJ it is called the elective share. In both cases the size of the estate will determine if the children get anything. If it exceeds the minimums, they will, if not, they won't. If the married couple's assets are all held jointly, then none of the above matters. The spouse just takes it all by virtue of joint ownership.
The laws may vary from state to state but typically anyone over the age of 18 is responsible for their own bills and the parents are not. An unpaid medical bill is no di…fferent from any other unpaid bill. When the bills of your deceased adult child begin to show up, normally you can write "Deceased" on the envelope and mail it back to the company. Check with a lawyer in your state to be sure.
No, if the card-holding parent is deceased, the card is no longer valid. If the adult child is part-owner of the credit card account, he/she should have their own card.
How does an adult child deposit a check made out to a deceased parent into a shared checking account?
In most countries you can not do this because it is not legal to cash a check made out to a deceased person. What needs to be done is that the executor of the deceased… estate must obtain from a court a grant of probate for the deceased estate and, with is legal document, write to the supplier of the check and ask them to re-issue the check in the name of the deceased heirs.
Upon the death of the parent with a Will, the estate goes through some form of probate, depending on the state where the parent died. The probate process will follow whateve…r rules are established for this asset in this state.
Is an adult child entitled to money after one parent dies and other parent is still alive when the deceased parent did have a will?
This area is governed by State law, but, in general, an adult child might be entitled to a share of the estate only when the last parent has died and did not leave a will.
This is a difficult question to answer without knowing more information. Were you the Executor of the deceased's parent estate? Was the will probated? Who's name (or names) wa…s the account in? Were the assets in the account addressed in the will? Is this question asking for a 'legal" opinion, OR, is it asking for an 'ethical' opinion? The above, while admittedly NOT a direct answer to the question, should give the questioner some "food for thought."
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
It is not the parents, but the estate that is responsible for any remaining debts. That will include medical bills. If there is not enough in the estate to cover them, someone… will not get paid.
Can Adult Children of deceased parents collect money owed to their parents from another adult child when there is no will?
The executor of the estate can collect money owed. It is an asset of the estate and needs to be identified, collected and taxed. Then it can be distributed per the will or the… law.
What rights do the children of deceased parents have when it comes to property if both parents die leaving a minor child and other adult children?
The children have the right to inherit the property as outlined in the will or in line with state intestacy laws.