0
If you held Power of Attorney for a person who is now deceased are you responsible for paying off a car loan?
Wiki User
∙ 11y ago
Once a person is deceased then the Power of Attorney ends. An Executor (male) or Executrix (female) should be named in a Will and they are suppose to carry out the wishes of that Will, which includes Probating in most cases.
Most Wills go into Probate and this means that ALL debts owing (including car payments) are paid off, all personal taxes, property taxes, normal bills such as gas, electrical, credit cards, etc. After the Probate has been approved then what is left is called the 'Estate' and that's when the Heirs get their inheritance.
It may seem like the car isn't worth the car payments, but the deceased probably could only afford so much at the time lengthening the time they paid on the vehicle. It's still a debt.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
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.
Are the parents of a deceased adult son responsible to file federal tax returns when the person died intestate?
The executor of the estate is responsible. They are required to file a tax return for the deceased. It may be a good idea to consult a tax attorney before doing this.
If you have power of attorney am I responsible for existing debt at death?
No. POA's become null and void at the time of the grantor's death. The administrator of the deceased person's estate is responsible for the payment of creditor debts and other matters.
Is a spouse responsible for deceased spouses medical bills?
No - a person's debts die with them. The spouse of a deceased person is not responsible fofr their outstanding bills.
How do you find out if you are responsible for paying for a repossessed car that is in another person's name but you co signed on?
"How do you find out if you are responsible ..... but you co signed on it."" You co-signed, you are responsible. What do you think "co-signing" is for? Call a local attorney.
Does the estate of a deceased person pay the taxes until probate and deed is in beneficiary name?
In general, the estate of a deceased person is responsible for paying any taxes owed until the assets are distributed to the beneficiaries. Once the probate process is completed and the property is transferred to the beneficiary's name, they would become responsible for the taxes going forward. It is important to consult with an estate attorney or tax professional for specific guidance based on your situation and jurisdiction.
What is the law in Florida regarding credit cards after death of the card holder?
In Florida, the executor or personal representative of the deceased's estate is responsible for notifying credit card companies of the cardholder's death. The estate is generally responsible for paying off any outstanding credit card debt using the deceased person's assets. Family members are not typically personally liable for the deceased person's credit card debt.
Is husband responsible for medical bills of my deceased wife in Illinois?
If the deceased person is your wife then I think you are responsible for her medical bills
What are your rights with joint mortgage and you have split up and am am now paying all mortgage?
Each person who signed the mortgage is responsible for paying that debt. You should discuss your situation with an attorney, especially if the other person's name is also on the deed.
Is someone with power of attorney responsible for paying taxes and credit card bills from period of time when the previous power of attorney misused funds had plenty of money and did not pay?
Yes, if the person has full power of attorney and the person who gave it is not able to take care of their personal business.
Does pwer of attorney give you power of the deceased person money?
No. A power of attorney ends upon the death of the principal.
Are minor children responsible for deceased parents debt in Louisiana?
No. The age of the children is not relevant unless they are adults who entered into a financial agreement with the parents. For example joint holders of a credit card account. The estate of deceased person(s) is responsible for paying any debts in the manner prescribed by the probate laws of the state where the person lived at the time of their death.
