Probably. Assuming it was a legitimate transaction done before any legal action was taken by creditors. If a creditor had already filed a suit, it might be seen as a fraudulent conveyance and LLC protection would be voided.
The estate has to pay all of the debts, including credit cards, if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
The dependent's estate is required to resolve all debts. If there are co-signers on the credit card, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
If you are unable to pay debts, depending on how much money is involved, you may have to declare bankruptcy or liquidate your assets to pay off debts
If the will provides that the estate shall be held in trust for a daughter that is called a testamentary trust. By law, the debts of the decedent will be paid first out of the assets of the estate. After the debts have been paid any remaining assets will then be transferred to the trust for the benefit of the daughter.
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
When one incorporates their business they are forming a LLC, a limited liability corporation. By doing this, a business owners personal assets are protected from business debts or obligations.
The personal represenative of the estate should pay them from estate assets if they are valid claims. The beneficiaries would not pay them.
The estate has to pay all of the debts, including credit cards, if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Your brother's estate is responsible for payment of his debts. If there is no estate then his creditors are out of luck. You could send any bills back along with a copy of his death certificate.
The dependent's estate is required to resolve all debts. If there are co-signers on the credit card, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
Even without assets, the estate has to pay off the debts. If the estate cannot do so, they distribute any money as best they can. If the court approves the distribution plan, the debts are ended.
it means that the personal assets of the partner may be used for payment of debts..
If you have outstanding debts, any assets, including inheritance, can be levied to satisfy the debt.
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
Credit cart debts are one of the primary reasons to open an estate. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
The estate is responsible for the debts of the deceased. If there are any assets they must be used to pay the debts. If not then the creditor is out of luck.
If you are unable to pay debts, depending on how much money is involved, you may have to declare bankruptcy or liquidate your assets to pay off debts