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Is a personal representative liable for the decedent's debts when there is no estate?
Wiki User
∙ 10y ago
The personal representative is not responsible for the debts. The estate pays the debts.
Wiki User
∙ 10y ago
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If a decedents home is left out of their trust is the executor still liable to pay the mortgage?
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 assets according to the will or according to the laws of intestacy if there is no will. They act under the supervision of the court and will be held personally liable if they mismanage the estate or abuse their authority. They have no right to settle the estate by making their own rules. Each beneficiary must sign a release stating they have received their share and have no further claim against the estate.
Can an executor be held personally liable for the estate tax?
can the executor be liable for estate tax
Is the estate liable for the debt on a surviorship deed?
The estate is liable for the obligations of the deceased. They would have to settle the debts.
Is the executor of the estate liable for mortgage if foreclosure?
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.
If a will is in probate can assets of estate be divided?
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 be held personally liable. They should consult with an attorney who can guide them through the probate process.Small personal items could probably be distributed once the estate representative has been appointed by the court. Cash, investments and real property must wait until the statutory period for creditor claims has passed and any costs of administration, legal fees, funeral costs and taxes have been paid.
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.
Is the daughter of deceased father liable for his debt in Texas?
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.
Is an estate liable for nursing home charges?
Yes
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.
Who is Liable of personal vehicle used for job?
The driver and the owner is liable.
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.
