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What else can I help you with?
Must an unwritten debt to deceased parents be paid by a daughter to the estate in irrevocable trust?
In reality, if there is no written proof of the debt, the estate cannot collect.
What happens to a debt you owe to a person that dies?
The debt you owed to the decedent will become a part of their estate and their heirs can collect as long as they have proof that you owe the money. The heirs can request that an estate representative be appointed and that person can pursue payment from you. The debt does not just go away as long as there is evidence that the money was owed to the decedent.
Can one estate pay back another estate?
Yes, if there is proof of a debt owed by the decedent to the other decedent.
Your spouse took out credit cards without your knowledge then she died are you responsible for the debt?
If your name was added on the initial applications (with or without your knowledge) then yes, you would be responsible for the debt. If not, the debt still needs to be paid - and proceeds for that can come out of the deceased person's estate ... for married couples, that can mean ... You ... as the widower is the estate at this point.
Is a child required to show proof of payment of debt to a deceased mother to avoid paying the debt to an estate in an irrevocable trust?
Yes.
What happens to a lien placed on a property and that person who is owed the money dies?
The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.The debt is owed to their estate.
How do you collect money owed from the deceased?
You must have written proof of the debt. If you do, you can file a claim against the estate as soon as the estate has been filed in probate.
What happens when someone dies and they owe you money?
You can file a claim against their estate in probate court with proof of the debt. If you have proof of the debt and they have assets of value, you must be paid by the estate before any remaining assets can legally be distributed to their heirs. If they have nothing of value, than you have nothing you can claim from them.
Who is responsible for debt when a person dies in Washington?
The estate is responsible for debt. That is one of the reasons for opening probate.
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.
If the person dies with a judgment against him are his heirs responsible for the debt?
It will come from the deceased person's estate.
If your sibling owes money to your mom at the time of your moms death does she have to pay it back to the estate.?
That will depend on the will, if there is no will and no signed document then the answer is "no" There MUST BE PROOF that the debt is owed in the first place!!! Your sibling absolutely has to repay the debt to the estate, especially if there is no will. In fact, the only way your sibling can get out of paying the debt is if there IS a will and the will specifically forgives the debt. The debt is an asset of the estate and must be collected by the executor. If your sibling is the executor, she still must pay it back. Frequently, in situations like this, the debt is not actually paid to the estate. The person owing the money simply has his or her inheritance reduced by an appropriate pro rata amount depending on the circumstances. If there is no signed document evidencing the debt, it must still be repaid if the debt can be proved by other means.
