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What happens to the deceased's debts such as bank loans and tax arrearages?

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βˆ™ 2006-08-07 14:30:50

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Some or all of the deceased assets will be liquidated to pay for the debts before any remaining assets can be divided by the survivors or distributed as decreed in his/her will. If there are not enough assets to cover the debts, the court will divide the assets somewhat equitably. If the deceased was married, the debt will be passed on to the spouse.

2006-08-07 14:30:50
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