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Are joint executors liable for any debts unpaid from the estate?
Wiki User
∙ 14y ago
The executors are responsible for the payment of the debts according to the payment scheme required by state law, however, if they do their jobs properly only the estate is responsible for the debts of the deceased. You need to be careful when there are debts and not enough money to pay them all. Certain creditors have the legal right to be paid first and the debts must be paid before any property is distributed to the heirs. You should seek the advice of an attorney who specializes in probate.
If there are no assets in the estate to pay debts the creditors are out of luck.
Wiki User
∙ 14y ago
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If your mom died and left unpaid bills would you have to pay them?
No - you are not liable for their debts
What if there isn't enough money in an estate to pay off all debt who is liable?
The estate is liable and has to pay off all the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Does the executor of an estate have the right to collect an unpaid debt owed to the estate?
Yes they certainly do have that right. That is the entire purpose of opening an estate, to collect all assets and pay all debts.
You are the successor trustee of your deceased mother's estate in California Are you responsible for her credit card debt?
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
Is a personal representative liable for the decedent's debts when there is no estate?
The personal representative is not responsible for the debts. The estate pays the debts.
Is the estate liable for the debt on a surviorship deed?
The estate is liable for the obligations of the deceased. They would have to settle the debts.
Is a child liable for a deceased parents unpaid taxes even if there was no will estate or trust.?
They are not personally responsible for the debt or taxes. The estate has to pay off these claims. If the estate cannot, they distribute as best they can. If the court approves the distribution, the debts are ended.
If your mom died and left unpaid bills would you have to pay them?
No - you are not liable for their debts
When a person dies is the remaining daughter responsible for the debt of credit cards?
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.
Is the estate responsible for medical bills if there is no will?
Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.
What if there isn't enough money in an estate to pay off all debt who is liable?
The estate is liable and has to pay off all the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Is the executor of the estate liable for mortgage if foreclosure?
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
What tasks do executors do when settling an estate?
The first duty is to inventory the estate and value it. Then they have to settle all debts and pay all taxes. Then they distribute the remainder.
Who is liable for debt when the person is dead and a mortgage remains?
The estate has the responsibility to settle the debts. One of the primary reasons to open an estate is to resolve such debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Are you liable for unsecured debt if you die in Florida?
A dead person in any state is not liable for debt. The deceased's estate is responsible for the debts to the extent there are assets in the estate to pay them.
What is California law regarding unpaid medical bills of an adult deceased child when there is no will and no estate?
The estate has to close out all debts. That is one of the reasons to establish an estate, to show that there are no assets and there is no way to resolve the debts.
