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What else can I help you with?
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
You signed as your mother's legal representative are you responsible for her medical bills?
You would be responsible only if you signed a written agreement with the care facility and/or physicians to pay her medical debts. Being a legal representative (POA) does not obligate that person to take personal responsibility to pay the grantor's (named person's)debts outside of the ability of the grantor (named person) to pay debts using his or her income/financial resources.
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.
Do I have debt responsibility as a POA for my Mother?
personally no. However, as POA you act as your mother's agent and must pay her debts as they become due. If you mismanage her funds, then you may have some responsibility.
Do I have to pay out of my pocket as power of attorney for mothers financial responsibilities when her finances runs out and she is on public assistance?
No, the person holding a POA does not become legally responsible for any of the grantor's debts that exceed the grantor's income/assets. This of course does not mean that the individual holding a POA has the legal right to incur debts that are not considered necessities (food, clothing, medical expenses, shelter, transportation etc.) for the care of the grantor.
Is a beneficiary responsible to pay debts?
No a beneficiary is not responsible. 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.
What if there are no estates will the children have to pay debts left by parents?
A person's estate is responsible for their debts unless someone else agreed to pay them.
What if you are the executor of the will m i responsible for any debts if the home was not in my name?
Being the executor does not make you personally responsible. The estate has to pay any debts. If the estate cannot pay them, the debtors do not get paid.
Are you responsible for husbands debts after he dies in Pa?
The wife is not directly responsible unless she is on the contract. Most rules state that the spouse benefits from the debts and can be held responsible. The estate has to pay the debts before she can inherit anything.
Are the surviving children responsible for a deceased parent's debts?
The estate is responsible for paying the debts of the decedent. No distribution can be made until the debts are paid. If there is not enough to pay the debts the court will declare the estate to be insolvent and the creditors are out of luck.
Do you have to pay the debts of your parents if they die?
The estate of a decedent is responsible for the debts. The debts must be paid before any assets are distributed to the heirs.
