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Can you be responsible for your deceased father's business debt?
Wiki User
∙ 11y ago
Not unless you were a part owner or in some way connected with the deceased person's business or personal debts.
Wiki User
∙ 11y ago
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Would your spouse be responsible for your business credit card debt if you were to die if she is not an account holder?
Your estate is responsible for your debts. If the business is owned by the deceased, the business is responsible. A spouse is not responsible, but the amount they inherit will be affected by the debts.
You are a minor are you responsible for your deceased fathers debt?
Your father's estate is responsible for his debts. If he owned any assets when he died his estate must be probated. You should speak with an attorney.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
If a parent owes credit card debt are the children responsible after the parent is deceased?
If they are not an account holder they are not responsible for the debt. All debts and assets and wills are handled in accordance with the state probate laws in which the deceased lived and/or owned property.
Are children responsible for deceased fathers debt in California?
Not unless they co-signed for the loans or credit cards. The estate is responsible for the debts.
Would your spouse be responsible for your business credit card debt if you were to die if she is not an account holder?
Your estate is responsible for your debts. If the business is owned by the deceased, the business is responsible. A spouse is not responsible, but the amount they inherit will be affected by the debts.
You are a minor are you responsible for your deceased fathers debt?
Your father's estate is responsible for his debts. If he owned any assets when he died his estate must be probated. You should speak with an attorney.
Are children responsible for the debts of their deceased mother in Illinois?
The estate of the deceased is responsible for the debt.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
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 you responsible for your deceased mother's debt with an applicance store?
If you were not listed as a joint account holder you are not responsible for the debt.
If you inherit your fathers small business when he dies and and you take over the business are you resposible for his credit card debt?
If the credit card is drawn against the business, that is if it is a business account, then yes. If the card is a personal card, then his estate is responsible for payment of any outstanding debt. Since the business is part of his estate, if in probate it is determined that the business owes the debt, then yes, you or rather the business is responsible.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
Are you responsible for your deceased husband's debt in Tennessee?
Well, it depends.....................
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.
In Colorado is husband responsible for his deceased wife's debt?
Her estate is responsible for the debt. In most cases he will have to pay from the estate or his own pockets.
