Is a personal representative liable for the decedent's debts when there is no estate?
The personal representative is not responsible for the debts. The estate pays the debts.
The home is a part of the estate. It does not matter that it is or is not in a trust. The executor is responsible for taking care of all of the assets of the estate.
Can a personal representative of an estate who has taken care of the decedent for three years take the share of a beneficiary because of a credit card debt?
A personal representative of an estate has no power until they have been appointed by a court. The court appointed personal representative of an estate has no right to "take" anyone's share for any reason. If there are issues regarding a beneficiary who owes a debt to the estate then the PR should ask the court what action should be taken. The PR is obligated to pay the debts of the decedent and distribute the… Read More
There is a statutory scheme for settling and distributing an estate. First an executor or administrator must be appointed by the court. Then the estate representative must settle the estate according to the terms of the will and the state laws of intestacy under the supervision of the court. The debts of the estate must be paid before the assets can be distributed. If property is distributed before debts are paid the estate representative can… Read More
can the executor be liable for estate tax
The estate is liable for the obligations of the deceased. They would have to settle the debts.
In Oregon if the estate does not have enough money to pay the attorney's fees is the Estate Representative personally responsible for payment?
Generally, the estate is responsible for paying the debts of the estate and the costs of probate. However, it depends on what you signed when you hired the attorney. You need to review copies of those documents. If the executor mishandled the estate funds they may be personally liable for any resulting debts.
The executor is not personally liable for anything. The estate is liable for all of the debts. If the executor is going to inherit anything, there may not be anything for them to get.
Generally, that depends on what the person signed when they hired the attorney. An attorney doesn't usually take on a probate in which there are no assets so there must have been assets in the beginning. If the assets are gone as the result of some action on the part of the executor then he/she may be liable for the costs of the probate. The debts of any estate must be paid before any property… Read More
The executor is responsible for paying any debts, including taxes, owed by the decedent before any assets can be distributed. If the debts are not paid and assets are distributed the executor can be held personally responsible.
Is it illegal for executrix being the deceased's spouse to dispose of their personal and financial records before the estate is settled?
The executrix has a responsibility to keep proper records, and in England and Wales would be liable for the rest of her life for her conduct of the estate. The short answer to your question is: no.
The estate of the deceased is liable. If you inherit any money, property or valuables these should have been used to settle the estate. If there was no estate then you will need to show this to the IRS.
My brother died in a car crash and has no estate I am the Executor or Administrator of an Estate because of legal case against driver The Hospital is asking for payment of debt am I liable for debt?
You are not personally liable for the debt. The estate is liable for the debt. If the law suit results in payment, it would have to be used to settle the debts.
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.
The estate is liable and has to pay off all the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
In Ontario Canada estate law under what conditions can the heir of an estate be held personally liable for the debts of the deceased if the will was never probated?
If they took possession of estate assets, they can be held liable. Taking the estate through probate is done to cut off these sorts of claims.
If the estate does not pay card balances that are small from an estate and funds are dispersed what can happen?
The executor of the estate may be liable for the debt.
The driver and the owner is liable.
You can submit the will for allowance and petition the probate court to be appointed the executor. However, you should be aware that once appointed you will be personally liable for any errors you make in handling the estate. There are laws that govern how an estate must be settled and if you make any errors you will be held personally liable. You can submit the will for allowance and petition the probate court to… Read More
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
They are not personally responsible. The estate is responsible for paying the costs.
The executor is not personally liable. They are required to use the estate funds to resolve bills.
The estate is generally liable for all bills and expenses (not you). Hire a probate attorney to help sort this out. The estate will need an executor.
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
Yes, they can be held liable for theft. It is a breach of fiduciary duty and is a crime.
The estate is responsible for the debts of the deceased. If there are no assets in the estate, the debtors are not going to be able to collect. This can be challenging. If the deceased owned a house, the house would be sold to pay the debts. Cars, bonds, stocksand other personal property could also be sold to come up with the money.
The estate must pay the loans.
Not on a personal level. Typically the estate is responsible for paying the debts, including the medical bills. If an next-of-kin co-signed any paperwork regarding the medical bills, they may be held liable.
No one is liable for the supply of necessaries to a minor. Only minors estate is liable. United States In the United States the parents are required to provide necessities of life to their minor child.
Gifting of an estate if creditors want to collect can the gifting of an estate stop it and can it be gifted to the offspring. Will the offspring be liable to pay debt of diseased parent.?
Creditors have a statutory period during which they may make a claim against an estate for an outstanding debt. Creditors who file in a timely manner must be paid before distribution is made to the heirs. If there is no estate the heirs are not liable to pay the debts of the deceased.
Not on a personal level. Typically the estate is responsible for paying the debts, including the credit cards. If an heir co-signed any paperwork regarding the credit card, they may be held liable.
What if a person dies in Feb 08 owing the IRS taxes for 07 but was separated from his spouse by the end of the fiscal year 07 - is the spouse liable for the IRS debt?
If the spouse inherited the estate, the spouse will pay the IRS debt. Since the two were still married, the taxes must be paid by the remaining spouse. If they were separated at the end of 2007 I assume that they did not file a joint return for the 2007 taxes. If this is the case, the husband's estate must pay the taxes. If the estate cannot pay the taxes in full, then the spouse… Read More
Go to the clerks office of your local probate court get the necessary documents, fill them out, and return them to the clerks office. Better than that spend a few hundred dollars and hire a probate attorney to handle. If there is real property involved, or a substantial amount of personal property, you should consult with an attorney who specializes in probate law in your jurisdiction. When anyone dies owning property, their debts must be… Read More
The estate of the decedent is responsible for paying the judgment in any lawsuit against the decedent. When notice of the lawsuit has been filed in the estate the Administrator would be responsible for maintaining the assets until the lawsuit has been resolved. No distribution can be made to beneficiaries until the debts of the estate are paid. The Administrator can be held liable if they distribute assets before debts are paid.
When you die leaving your estate to your children they are liable to pay the tax or mortgage etc and if the property is then rented to another by your children they are still liable for the taxes on that property and not the tennant as they pay the rent to the children for the privelidge of having full use of the property but the property remains under the ownership of your children and it… Read More
A beneficiary cannot be made responsible. However, they may not get anything from the estate, because it is responsible for ending all debts.
The estate pays for the funeral. It is typically one of the first clauses in the will. If someone signed for the funeral costs, they can be held liable if the estate fails to cover the costs.
Can you explain who is liable for funeral expenses from this i give devise and bequeath all the remainder of my real and personal property wheresoever and whatsoever to which may be entitled?
This clause of a will only directs that an estate be divided equally, you would not be able to tell who was responsible for funeral costs, however, the executor of the estate would be responsible as they are appointed to deal with the deceased's estate, which includes their debts, which the costs of the deceased's funeral is one of the first and foremost debts to be recognised.
What is your liability of paying back a business credit card if it had a personal guaranty attached to it and the company has gone out of business?
You are completely liable. That's the point of the personal guarantee. When you agreed to that you destroyed the concept of a corporate shield and are completely liable for the debt.
In the state of Texas if a parent dies with no will no estate real estate are the children liable for credit card debt or outstanding medical bills?
Only if they guaranteed the bills or debts. The estate needs to be set up to handle the debts. If there are no assets in the estate, it can close the debts.
Typically the beneficiary of the life estate will be liable to pay the taxes on it and you can read more about this when you click which has been added for you below this answer.
The value of the furniture forms part of the deceased person's estate. If that estate is liable to taxation in the country in which you live, then yes tax would have to be payed on it.
If you do not have a Will you should have one made up along with a Living Will (this lets others know whether to resuscitate you or not) and money for a funeral put aside or you can pay for it beforehand. After a death whatever properties; contents; vehicles; stocks and bonds are called an 'Estate.' The Will is then Probated and this is to be sure all personal and other taxes are paid off… Read More
They are not personally responsible for the debt or taxes. The estate has to pay off these claims. If the estate cannot, they distribute as best they can. If the court approves the distribution, the debts are ended.
The estate has the responsibility to settle the debts. One of the primary reasons to open an estate is to resolve such debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Ending debts and creditor calls is 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.
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.
Are the children whose father predeceased their grandmother liable for inheritance tax on the father's estate?
Whoever got the cash.
In Colorado, as in all states, the estate is responsible for all the debts of the deceased. That means before the estate can be settled, all medical bills have to be cleared. If there is not enough in the estate to cover them, the husband may not get anything.
No, the executor is not personally responsible. It is their duty to value the estate, resolves debts based on the assets. If there is not enough money, it is reported to the court with the distribution plan and some people do not get paid.
The executor is not personally liable. They have to pay off all debts using the assets of the estate. If the liabilities are greater than the assets, they present an equitable distribution plan to the court.