0
Your estate is responsible for paying your debts.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Do you have to pay the debts of your parents if they die?
The estate of a decedent is responsible for the debts. The debts must be paid before any assets are distributed to the heirs.
What are the UK laws regarding the debts of a deceased person Who pays them off?
The estate of the deceased is responsible for paying all the deceased's lawful debts.
What was the cause for the closure of Jessops UK?
Jessops UK closed all its stores because the company could not pay its debts and went bankrupt.
If you die without any estate do your debts die with you?
Generally, yes. If the decedent left no assets their creditors are out of luck.
Are children resposible for their parents debts after they die?
They are not directly responsible. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
How many smokers die a year in the UK?
Around 100,000 people die in the UK each year.
What is an Administration order in the UK?
The Administration Orders allows a person to put all their low priority debts into an affordable monthly payment.
Is my brother responsible for my medical bills when I die if I have no spouse or children?
== == NO. When you die, your debts die with you, unless you have money in a bank account, or other funds that are in your name. A claim may be made by a debtor ( some one who you owe money to ) thru the courts. Your family is not legally responsible for your debts, UNLESS they signed to do so.
If you die before your debt is paid does your estate pay it?
Yes. Your estate is responsible for your debts after your death.
Who is responsible for a persons debt when they die?
The estate will be responsible. If there are not enough assets to cover the debts, then they will not be paid.
Will the debt of the parents have to be paid by the children when they die?
The debts of the parents are paid by the parent's estate, not their children.
When is a debt written off in the UK?
In the UK, debt is written off when the financial burden is simply too much for the person or company. Debts are also forgiven when a person is seriously ill or has passed away.
