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Can you be held responsible for your deceased fathers debt in California if you are the only heir and your fathers debt exceeds his assets?
If the debt exceeds the assets, the assets must be sold to cover the debt. Heirs are not responsible for any remaining debt. Certified letters along with a certified death certificate should be sent to each debtor that can not be paid in full after the sell of assets. In this case there would be no inheritance.
Are the heirs responsible for credit card debt in the state of pa?
Not on a personal level. Typically the estate is responsible for paying the debts, including the credit cards. If an heir co-signed any paperwork regarding the credit card, they may be held liable.
Can an unauthorized credit card user be responsible for debt that was charged?
If you were unauthorized, you can be held legally -- and possibly ciminally -- responsible for any debt you incurred.
Are you responsible for any debt your daughter has after she left home?
If your daughter has reached the age of majority, no, you are not. If she has not, you can be held responsible for providing for her welfare.
In Wis can the next of kin be held responsible for any of the parents debt of any kind?
In Wisconsin they are not personally responsible for the debt. 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.
If the primary cardholder is deceased and the authorized user is no relation and not responsible for debt will this affect the authorized user's credit if it is not paid?
AN authorized user cannot be held responsible for a primary holder's debt in any case. Only a joint holder can be liable for the debt. YES OF COURSE
Can a child with power of attorney be held responsible for opening a credit card and amounting debt in parents name?
Yes, they can be held accountable. Any actions must be to the benefit of the principle.
Are you responsible for debt incurred by an LLC in which your spouse is a partner?
No - but - your spouse is ! In the event of legal action to recover the debt, any judgement could affect any joint assets (bank accounts etc) held in both you and your partners names.
In Wis can next of kin be held responsible for any or all debts after a parent passes away?
No , that only applies to any debt cosigned for or if you were married to the party that has passed away.
Are you responsible for your deceased parent's credit card debt?
If the estate has any assets, the estate should pay for the debt before anything is passed on to the heirs. If there are no assets the credit card company will just have to write it off. You are not held responsible unless you co-signed for the card.
Can a spouse be held responsible for wife's premarital college debt?
No and the key word here is premarital. Any thing before the marriage belongs to that person from items to debt. You can choose to help with the debt, but it belongs to her since she came into the marriage with it all ready.
Why am I responsiable for mothers debt to state of Maryland when she had no estate?
No, you are not directly responsible. The executor is responsible. This is one reason to create an estate. It allows the debts to be resolved and the estate closed. Note that if you co-signed any items, you may be held responsible.
