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Is an estate liable to pay 40000 in credit card debt of widowed mother?
Wiki User
∙ 8y ago
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.
Wiki User
∙ 8y ago
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You are the successor trustee of your deceased mother's estate in California Are you responsible for her credit card debt?
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
Is your mother responsible for your late father's credit card debt if it was in his name only?
Only if they resided in one of the community property states. If that isn't the case, the debts along with the estate (nonexempt assets) will be subject to probate.
Is life insurance considered inherited property that a credit card company can claim after the death of a mother for unpaid credit card debt?
Depends upon the State of your mother's residence, and the beneficiary of her insurance policy. If the beneficiary was her estate, they might be able to recover the debt; if an individual was the beneficiary, unless that person was a cosignor of the debt, it is not likely they have any recourse. Have you checked to see if your mother's account had debt cancellation coverage? Best of luck. Rjbeeg
Can a son transfer his credit card balance of a card to his mom's new credit card?
Provided the mother had enough available credit on the card yes. Incidentally, the mother would have to be the one that called her credit card company to action it.
Would my mother's children be liable for any credit card debt she had at the time of her death?
Your mother's estate is responsible for her credit card debt.
You are the successor trustee of your deceased mother's estate in California Are you responsible for her credit card debt?
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
Who is liable to pay my monthers line of credit if there is not enough money in her estate.?
If there is an unsecured line of credit and there are no assets then the creditor is out of luck. If the line of credit is secured by a mortgage on mother's real estate the lender can foreclose and sell the property. You must probate the estate if there is real estate. In that case, if the debts are greater than the assets then you should seek the advice of an attorney before paying any debts. There is a statutory priority of payment that must be followed by the administrator.
Mother died widow she had 3000 in credit card debt and no will only 600 in checking account Is son liable for this debt?
The son is not personally liable. The estate, of which the son is most likely going to be executor, is responsible for liquidating all debts. If there are not enough assets, the executor provides the court with how they are dividing them across the debtors. With approval, the estate is then liquidated and closed.
Your mother died 5 years ago in California and the estate was closed a year later so are you still liable for credit card debts as the sole beneficiary of her estate?
How could the estate be legally closed if there were still outstanding debts owed? Sounds like someone didn't do the job of running the estate properly. There could be a legal reason for the creditors to ask the estate to be reopened.
Does Jewish Tradition require the eldest son to care for widowed mother?
Every son is required to care for their widowed mother.
Mother has passed she was on a fixed income She had a credit card from a Dept Store Who is liable for this account?
If your mother had a Will and owned a house or property (even a car) then this is considered an Estate and would have to go into Probate. Probate makes sure all creditors, taxes, etc., are paid before any monies or property is distributed to an heir or heirs.
What is a widowed father?
If a man and woman marries, have a child together and the mother dies, then the man becomes a widowed father.
Who are the characters of The Aged Mother?
widowed mother, poor farmer despotic leader
Your parents own a house your father died is your mother liable for his credit card bills and hospital bills?
yes unless they are divorced then it goes to his mother or his children.and if this has happened to you then i am so sorry about that.
What is a good Valentine's gift for your widowed mother?
A good Valentines day gift for you mother who is widowed could be jewelry. You could even make it something she could remember her spouse with, like a locket with his picture.
Mother passed leaving land and house to three children one is the executor are you responsible for credit card debt in Florida?
The estate is responsible for the credit card debt. The assets of the estate cannot be distributed before the debts of the estate are paid. The executor is bound by law to give notice of the death to creditors. You should seek the advice from the attorney who is handling the estate.
