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If there is a simple will and no outstanding debts how long will probate generally take?
Wiki User
∙ 11y ago
Probably about 6 months. It takes a minimum of 90 days to advertise for debtors and claims against the estate.
Wiki User
∙ 11y ago
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What happens to debt after death?
Generally a deceased person's assets and debts are subject to probate procedure. State's establish laws pertaining to what property/assets can be exempted from probate action and what assets will be used to pay outstanding debts. All debts must be satisfied to the extent required by state law before any inheritances are distributed. Probate laws are applied differently depending upon the circumstances, such as there being a surviving spouse, the status of the debts (joint or sole) and so forth.
Who pays outstanding debts when someone has passed away?
The estate of the deceased is responsible for outstanding debts. The exact process that will be followed depends on whether the deceased outlined plans for an estate in a will or whether the entire situation has to go through probate.
If the mortgage on a house is paid do you still have to take it through probate?
That depends on several factors, the main one being the state probate laws, if there was a valid will, how the property is titled, and if the deceased had any outstanding debts.
Who is responsible for expenses while a home is in probate?
The estate is responsible for paying the debts and the estate representative, appointed by the probate court, is responsible for paying the debts from the estate.The estate is responsible for paying the debts and the estate representative, appointed by the probate court, is responsible for paying the debts from the estate.The estate is responsible for paying the debts and the estate representative, appointed by the probate court, is responsible for paying the debts from the estate.The estate is responsible for paying the debts and the estate representative, appointed by the probate court, is responsible for paying the debts from the estate.
If your husband dies and his car is titled in his name does the wife get it automatically or what happens?
It depends what his will says. If he dies without a will then it depends on the laws of intestacy where you live. In most states it will have to go through probate. It may be sold during probate to pay for outstanding debts or to satisfy taxes.
Does the expenses of the home of the deceased get paid before medicaid lien?
You should consult with an attorney who specializes in probate. There is generally a legal order of priority for paying debts of an estate. If you do not follow it then you will be held personally liable to creditors who should have been paid first.You should consult with an attorney who specializes in probate. There is generally a legal order of priority for paying debts of an estate. If you do not follow it then you will be held personally liable to creditors who should have been paid first.You should consult with an attorney who specializes in probate. There is generally a legal order of priority for paying debts of an estate. If you do not follow it then you will be held personally liable to creditors who should have been paid first.You should consult with an attorney who specializes in probate. There is generally a legal order of priority for paying debts of an estate. If you do not follow it then you will be held personally liable to creditors who should have been paid first.
Do we have to go to probate court if a will is uncontested?
The executor of the estate submits the will to probate court if it is necessary to do so. It is only necessary when there is a large estate, many heirs, outstanding debts, or a possibility if someone is going to contest the will. In a case where the will isn't going to be contested a lot of time and money can be saved by doing a "short probate" if available or not choosing to submit the will to probate court at all. You will still need to go to probate court. The process is faster though and you will be put on the uncontested docket.
Do you have to probate an estate?
In short, yes, it is a good thing to probate an estate. It closes everything out and finalizes the debts and assets.
Is an estate liable to pay 40000 in credit card debt of widowed mother?
The distribution of funds for debts of a deceased person is determined by state law. The assets, debts and will, if any,is filed in probate. Creditors have a specified time to file claims against the estate for outstanding debts. The court will then determine which assets are exempt and which can be used to pay creditors. State laws pertaining to probate procedures vary greatly. It is not possible to be more specific w/o knowing the deceased resident state.
What is the difference between outstanding assets and outstanding liabilities?
Outstanding assets are assets that are owed to an individual or business. Outstanding liabilities are debts that ill be incurred in the future.
In Texas must a home in probate be sold?
No, it does not have to be sold. But the debts have to be settled and if there is not enough money to resolve the debts, the home will have to be sold.
If you are an heir to the estate are you also an heir to the credit card debt incurred by the previous owner?
No, all non exempt property belonging to the deceased is used to pay outstanding debts. None of the estate will be distributed to beneficiaries until probate procedures are complete and all debts have been paid to the extent of the available funds.
