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If the decease has credit card debt with no dollar value to his estate what happens to the debt?
Wiki User
∙ 13y ago
The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Wiki User
∙ 13y ago
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Should the adult child of a decease parent continue to pay the mortgage while the will is in probate or does he need to wait until executor of the estate has been legally declared?
You should seek the advice of the attorney who is handling the estate.
Who is resposible for credit card debt if there is no estate?
The estate is responsible for the sole debts of the decedent. If there is no estate then the creditors are out of luck.
What are non-dollar assets?
real estate
What is a healthy mix of types of credit use on your credit report?
revolving installment and real estate credit
Credit card debts in estate?
The estate has to pay all of the debts, including credit cards, if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Who pays for credit card debt when the decease has left no estate?
Credit cart debts are one of the primary reasons to open an estate. The estate has to pay off the debts. If the estate doesn't have the assets to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
If a person dies and there is no estate what happens to credit card debt left by the deceased?
The estate is required to pay off the debts including credit cards. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What happens to husbands credit card debt if he dies?
The deceased's estate is going to be responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
Can a surviving spouse file bankruptcy for a decease spouse?
The executor of the estate can do so. It is more than possible for the estate to not be able to pay all debts.
What happens when your estate is zero and you have credit card debt?
Credit card debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If they are unable to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What happens to credit card debt when a person dies in Florida?
It becomes part of the probate procedure of the deceased's estate.
What does legatee mean?
LegateeAlso known as a beneficiary, a legatee is a person or organization who is named in a will to receive a portion of the decease's estate.
Are beneficiaries on a will responsible for decease's debt?
The estate must be probated and the creditors will be given notice. The decedent's debts must be paid by the estate before any property can be distributed to the beneficiaries.
If the Deceased did not have an estate what happens to his credit debt?
The reason and estate is opened is to pay all the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Is the administrator of the estate of a decease person liable for omitting informing the court of all of the real estate property of the deceased?
I would certainly expect so. It would be negligence, if not fraud to do so.
Does the decease estate continue to alimony?
In the US, alimony terminates upon death. If there is back alimony due that's a different matter.
Will executor and next of kin competing for a decease's redirected mail who wins?
The mail belongs to the estate. The executor should get all mail.
