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What happens to federal parent plus loans when the parent dies?
Wiki User
∙ 11y ago
Typically there are only a few ways federal loans can be written off or dismissed. Death or being permanently disabled are a couple of them. If a parent dies, the PLUS loan in their name will be dismissed. No one will need to make payments on it any longer. If his has happened, be sure to notify the lender for the loan what has happened. They will likely ask for documentation of the death.
Wiki User
∙ 11y ago
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If you set up a trust fund to look after an aging parent what happens to the balance of the trust fund once the parent dies?
Once the parent dies, the balance of the trust fund depends on the terms and conditions outlined in the trust document. It can be distributed to the named beneficiaries, such as other family members or charitable organizations, or it may be specified to be used for specific purposes, such as covering funeral expenses or paying off outstanding debts. The distribution would be carried out according to the instructions provided in the trust.
Are grandchilren next of kin if parent dies?
No, grandchildren are not typically considered next of kin if a parent dies. Next of kin usually refers to a person's closest living blood relative, such as a spouse, parent, or sibling. Grandchildren would be considered more distant relatives in terms of legal relationships.
What if your mom dies?
Losing a loved one, especially a parent, can be incredibly difficult and emotionally devastating. It is important to allow yourself to grieve and seek support from family, friends, or a therapist during this challenging time. Remember to take care of yourself and lean on others for comfort and understanding.
What happens when someone dies in Germany?
When someone dies in Germany, the death must be reported to the local registry office within 24 hours. A death certificate is issued, and the deceased is typically buried or cremated within a few days. The next of kin or appointed executor is responsible for handling the deceased's affairs, including notifying relevant authorities and settling any estate matters.
In Florida what are the rights of adult children when parent remarries and then dies and parent at the age of 80 plus made many accounts joint with 2nd spouse who survives him?
In Florida, adult children do not have automatic rights to the joint accounts made with the parent's second spouse. If the accounts were set up as joint accounts with rights of survivorship, they would pass directly to the surviving joint owner. The adult children may have a claim if they can prove that the joint accounts were not intended to be gifts to the second spouse, but this can be legally complex and challenging to prove. Consulting with a probate attorney in Florida would be advisable in this situation.
Does a cosigner have to replay a federal student loan if the student dies?
Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
Do kids have to pay federal student loans when a parent dies?
If a parent were to obtain a federal school loan for their child and the pass away , the child would not be responsible for paying it back. The loan would be discharged due to death discharge. A death certificate would have to be shown to prove death of the borrower.
What happens when an animal's parent dies?
the animal will be confused as to where the parent is but over time will get used to not having a parent
What happens if one robin parent dies?
Then the other parent has to take care of the nest.
When a widowed parent dies in California are the children responsible for the debt owed by deceased parent for loans credit cards taxes etc?
When someone dies in CA the relatives of that person are NOT responsible for the debts owed by that person. The credit cards and loans would like you to think you owe the money, but you don't.
What happens to loan with one parent if that parent dies?
Some institutes, if its a smaller loan will allow you to fax in a death ceterifercate.
If a parent dies with unpaid student loans does the child inherit the debt?
No! Probate Court or the student loan provider may look to some of the asets that your parent may have left behind to satisfy the student loan. But you cannot be made personally liable for your parent's studnet loans unless you co-signed for them.
How does any king inherit the throne?
The King or Queen (who happens to be his parent and is the ruling monarch) dies.
What happens when a spouse dies in middle of divorce and there are temporary custody orders?
The child go to the other parent.
What happens if a parent dies and they left the estate to their children and some of the children take over not sharing with the others?
They can be sued.
Do they wave a student loan if you die?
In the United States, if a student dies with outstanding federal education loans, those loans are typically waved and the debt disappears. However, if the loans were through private institutions, the loans may or may not be waved depending upon the individual bank or credit union's rules.
Does one sibling living with a parent that dies have more rights than other siblings not living with parent at the time of death?
A parent may leave one child who has been of extraordinary help and comfort a greater share of their estate by will. However, if the parent dies intestate, as often happens, then the property will pass according to the laws of intestacy in your parent's state. You may check the laws for your state at the link below.
