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The whole estate is in trust for the daughter of the deceased who is responsible for the credit card debts?
Wiki User
∙ 15y ago
If the will provides that the estate shall be held in trust for a daughter that is called a testamentary trust. By law, the debts of the decedent will be paid first out of the assets of the estate. After the debts have been paid any remaining assets will then be transferred to the trust for the benefit of the daughter.
Wiki User
∙ 15y ago
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Does a daughter need to pay off a deceased mothers credit card debt?
It depends on the country you are in, but in the UK, the first claim on the estate is the revenue (ie tax), then debtors - which would include the credit card debt. That should be paid out of the estate of the deceased.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
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.
Would your spouse be responsible for your business credit card debt if you were to die if she is not an account holder?
Your estate is responsible for your debts. If the business is owned by the deceased, the business is responsible. A spouse is not responsible, but the amount they inherit will be affected by the debts.
Does your credit card debt die with you?
No, it does not really die with the individual, but it could. The estate is responsible for settling any debts of the deceased. If the assets of the estate aren't enough to cover them, the debt will be discharged.
Who is responsible for a home equity line of credit after death?
The estate of the deceased.
Who is responsible for a deceased person credit card debt in North Carolina?
The estate is responsible for the decedent's credit card debt.
When a person dies is the remaining daughter responsible for the debt of credit cards?
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.
Who is responsible for credit card debt of deceased family member is there is no estate or money?
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Are you responsible for your deceased mothers credit card bills in Oklahoma?
The estate of the deceased is responsible for resolving the debts left behind. This is the reason that an estate is a good idea, it provides a means to settle the debts.
Who is responsible for your credit card debt after your death in Mississippi?
The estate is responsible for the credit card debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, they may not get paid.
When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
Is a surviving spouse responsible in Oklahoma for Credit card debt of the deceased spouse if the living spouse never signed and document?
In Oklahoma, the deceased's estate is responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
Are children responsible for deceased fathers debt in California?
Not unless they co-signed for the loans or credit cards. The estate is responsible for the debts.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
In the state of Maryland who pays the credit card debt of a deceased parent?
Generally, the deceased parent's estate is responsible for the debts of the deceased. The creditors should be notified of the death. If there are any assets the estate should be probated.
In Massachusetts is a surviving spouse responsible for deceased husbands credit card debt?
Indirectly. The estate of the deceased husband is responsible for resolving all of his debts. Since the widow is going to be the primary beneficiary of the estate, she will inherit less because the estate has to pay the debt.
