The estate will be responsible for any taxes. It must be resolved before the estate can be closed and anything distributed.
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.
If your deceased father had a home equity loan are the heirs now responsible for paying it off IF THEY SELL THE HOME?
It will come from the deceased person's estate.
No, the executor is responsible to insure the estate is taken care of. Them means either selling the house or paying off the mortgage. One way or another the debts have to be resolved before the estate is closed.
The debts are paid from the deceased's estate, before the heirs inherit what's left (if anything). Debt is not inheritable though, so if the estate isn't enough, the heirs are not responsible for the remainder.
The deceased estate is responsible for repayment of debt, with secured debts taking priority. With the exeption of property which is ruled exempt to probate procedures, assets will not be distributed to named heirs until debts are satisfied.
The heirs are not legally responsible for paying the loan. However, if they want to keep the property the loan must be paid or the lender will take possession of the property by foreclosure.
AnswerYour parents would have had a Will and the Estate (your parent's home, all monies they have, etc.) are Probated before anything in that Will is released to the Heirs. Probate makes sure all personal/property taxes are paid, all creditors are paid off and what is left in the Estate is called the "residue" and then it's divided amongst the Heirs in the Will according to the deceased instructions. No, you are not responsible for the medical bills in this case. Probate will take care of this. If your parents left no Will, then the courts will pay off all creditors.Heirs are not responsible for paying off creditors, but, if you want to collect from the Will, then you are going to have to wait for Probate which could be 8 months to a year.
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No. A child cannot be held responsible for the actions of their parents.Exception to the rule: If the children are heirs of an estate (both parents are deceased) and taxes are outstanding, then the taxes must be paid out of the estate proceeds before the child(ren) could be awarded the residuals.
No, bank has to give a notice to the hires of deceased depositor about his account detail. Then if notice not responded by the heirs, bank has right to clod it.
An authorized user does not fulfill the definition of "debtor" under the Fair Credit Reporting Act. AU's are not liable for any debt they have not signed a contractual agreement for. If the AU is the heir of a deceased person, the deceased's estate or heirs MAY have liability for their debts. This would depend upon (their state's) inheritance laws and the terms of the will.