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If you have a Will there will be a statement saying that "all of my debts are to be paid." Each creditor puts in a claim. The estate is divided among them. Your survivors don't have to pay them unless they co-signed.
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∙ 15y ago
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What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
Can you refuse to inherit a house which has more debt than it is worth?
You have the ability to turn down an inheritance. It is usually done to avoid tax consequences. In this case, it can help avoid issues and let the estate resolve the imbalance.
How much is more is pounds worth than dollars?
Pounds are worth 49 cents more than dollars. Here is a link where you can see how much more money pounds are worth than dollars. http://coinmill.com/GBP_USD.html#USD=1.00
What metal is worth more than gold?
platum
Is mortgage better than a loan?
A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.A mortgage is a loan secured by your real estate. If you own real property you can borrow more with a mortgage.
How rich is Whitney Houston?
When she died in February 2012, it was estimated that her estate was worth more than twenty million dollars.
What happens when you get caught driving with no ignition interlock?
More trouble than it's worth
Is Charleston real estate market worth buying right now?
Charleston real estate like every other city real estate is in a slump. You might be taking on more than you want to. However, if you do decide to buy real estate, it is realized that buying property in the South is more reasonable than in the North at this time and has been usually over the years.
What New York real-estate mogul once said of a beggar He's worth 900 million more than I am?
Donald Trump
What is a 94 year old life estate worth?
It will not be worth too much. It is only valid as long as the 94 year old is still alive, which is not likely to be for more than ten years.
What is the typical use for a usb cable?
They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.a
What to do if the Co executrix are not willing to cooperate?
Unfortunatley this is what happens when there is more than one Executor to an estate. You will have to appraach the Probate Court with your impasse and request their intervention or mediation.
What is worth more than a euro?
The pound is worth more than euro.
If you have more debts than your estate is worth won't it make more sense to NOT have a will so that your life insurance beneficiary won't have to pay your debts?
In order to satisfy the debts and end the creditors, an estate is the way to go. 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.
How do you get a car title released that has been left in a will?
The car has been left to my sister in a will. I have been told it was not worth probating because it is the only item in the estate and there are bills that total more than the car is worth. How can I get the title released?
What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
Is there a federal inheritance tax?
There is a federal inheritance tax which is also called an estate tax. However, this tax only applies to estates that are worth more than a million dollars.
