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Are adult children responsible for paying foreclosure debts of deceased parents?
Wiki User
∙ 12y ago
They are not directly required to pay any debts. If you are the executor of the estate, yes, if there are assets to pay them with. If the debts exceed the assets, there are some people who will not get paid, including the beneficiaries.
Wiki User
∙ 12y ago
In most cases, adult children are not personally responsible for paying the foreclosure debts of their deceased parents. Debts of the deceased are typically settled using the assets within their estate before any inheritance is distributed to beneficiaries. However, it is advisable to consult with a legal professional to understand the specific obligations in your jurisdiction.
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Are children responsible for parents nursing home debt in NY?
In New York, children are not automatically responsible for their parents' nursing home debt. However, under certain circumstances, such as if they have signed a contract agreeing to be financially responsible for the debt, or if they have transferred their parents' assets to avoid paying for care, they may be held liable. It is recommended to seek legal advice in such situations.
Why do parents need to be mature and responsible?
Parents need to be mature and responsible to provide a stable and nurturing environment for their children. They need to make decisions in the best interest of their children and model appropriate behavior for them to follow. Being mature and responsible helps parents navigate challenges and setbacks effectively, ultimately shaping the well-being and development of their children.
Who is financially responsible for an 18 year old unemancipated but not living with either parent?
Typically, parents are financially responsible for their children until they reach the age of majority, which is 18 in most places. However, in certain cases, legal guardians or the state may also become financially responsible for the minor if the parents are unable or unwilling to fulfill that responsibility.
Are children responsible for living parents' debts when the parents are confined to a nursing home?
In most cases, children are not responsible for their parents' debts unless they have co-signed or guaranteed those debts. Medicaid may cover nursing home costs if the parents cannot pay. It is advised to consult with a legal professional to understand specific situations and liabilities.
What are your responsibilities to your parents?
As a digital assistant, I don't have personal relationships or responsibilities towards my programming creators. My purpose is to assist users with providing information and completing tasks to the best of my abilities.
Are the children in the state of Florida responsible for a deceased parents medical bills?
No, they are not
Are children responsible for deceased parents dental bills in Oregon?
The estate is responsible for all the debts of the deceased including dental bills. The children are not required to pay them from their own pocket.
Do the children have to pay the debts of their deceased parents?
If you were not a joint debtor you are not responsible for repayment of deceased parent(s) debts.
Will my credit be affected by my deceased parents' home being in foreclosure since I am an heir?
No. You never agreed to pay the debt, therefore cannot be held responsible.
Are children resonsible for their deceased parents' debts in Virginia?
The estate will be responsible, not the children. They will not be able to inherit until they are resolved.
Are a deceased parents doctor bills the responsiblity of the children?
The estate is responsible for all the doctor bills of the deceased. The children are not going to be required to pay them from their own funds, but it will reduce what they inherit.
Are adult children responsible for paying deceased parents real estate taxes?
No, the estate is responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed any remainder distributed.
Are surviving children in Pennsylvania responsible for paying the mortgage debt of deceased parents?
The children are not directly responsible in Pennsylvania. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
Are parents responsible for deceased children 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 and the heirs may get nothing.
Are adult children responsible for paying deceased parents medical bills in Florida?
The estate is responsible for the medical debts. The exception would be if the children were the insurance holder or co-signed the medical agreement.
Are adult children responsible for deceased parents nursing home debts when they are broke?
Generally, a parent's estate is responsible, the children are not--even when the children are not broke--, unless the children have committed themselves to pay for the obligation in some other way.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
