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What could happen when an estate has no money left to pay credit card balance?
The estate has to pay off the debts possible. If the estate cannot do so, they distribute the amount as best they can. If the court approves the distribution, the debts are ended.
What happens to the estate of a parent who dies and leaves a lot of debt?
Debts are one of the primary reasons someone should open an estate. 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.
In Florida what should a daughter do about credit card debt of a deceased parent?
Make sure the executor of the estate is aware of the debts. Those debts have to be resolved before there can be distribution of the estate.
What do you do when some dies with a will and small estate and there is a balance on a car loan?
The executor should talk with the bank. 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.
Do heirs also inherit the decedent's debts?
No. The decedent's estate is responsible for the debts of the decedent. However, no distribution of assets can be made until the estate is probated and debts are paid.
Who is responsible for a person's medical debts after death?
The estate is responsible for the decedent's debts. One of the primary reasons someone should 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 could happen when an estate has no money left to pay credit card balance?
The estate has to pay off the debts possible. If the estate cannot do so, they distribute the amount as best they can. If the court approves the distribution, the debts are ended.
How long after death is estate responsible for medical bills?
Until the estate is closed, it is responsible for debts. One of the primary reasons someone should open an estate is to resolve 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 happens to the estate of a parent who dies and leaves a lot of debt?
Debts are one of the primary reasons someone should open an estate. 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.
Who is responsible for debt after death in Tennessee?
The estate has the responsibility. One of the primary reasons someone should open an estate is to resolve 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.
In Florida what should a daughter do about credit card debt of a deceased parent?
Make sure the executor of the estate is aware of the debts. Those debts have to be resolved before there can be distribution of the estate.
If a person has no estate at the time of death who is responsible for his loan debt?
The estate is always responsible. Debts are one of the primary reasons someone should open an estate. 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.
Are children responsible for parent's debt in Connecticut?
No, they are not responsible, the estate is. Debts are one of the primary reasons someone should open an estate. The estate has to pay off those debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Will credit card debts write off the debt after your death?
They will not do so immediately. They will attempt to collect from the estate. Debts are one of the primary reasons someone should open an estate. 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 happens when your estate is zero and you have credit card debt?
Credit card debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If they are unable to do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What are the estate laws in California concerning credit card debt?
In California, credit card debt does not automatically pass to a deceased person's heirs. The deceased person's estate is responsible for paying off any debts, including credit card debt. If the estate does not have enough assets to cover the debt, creditors typically cannot go after the deceased person's family members. It is advisable to consult with a legal professional for specific advice on handling credit card debt in an estate in California.
What do you do when some dies with a will and small estate and there is a balance on a car loan?
The executor should talk with the bank. 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.
