0
When a parent dies are their children responsible for their debt?
Wiki User
∙ 10y ago
Normally the estate has that responsibility. If the children co-signed, they can be held personally responsible.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
If a dependent parent dies are the children responsible for the tax debt?
If a dependent parent dies then the estate will be responsible for their tax debt. If you are over their estate then you would have to ensure that the government gets their taxes.
When a parent dies are children responsible for a debt they still owe to the parent?
They still owe the money to the estate. The executor may offset their inheritance by that amount.
When a parent dies in Washington are children responsible for debt when there is not money or an estate?
They are not personally responsible. The estate has the responsibility to resolve the debts. If the assets are not adequate to resolve them, they have to be written off.
Are children responsible for their parent's debts when the parent dies even if you are power of attorney?
No
When a parent dies in Louisiana are the children responsible for the debt still owed by the deceased parent credit cards taxes mortgages etc?
The estate is responsible for all debts. Please consult a probate attorney for specifics on how to open an estate.
When a parent dies are the children held responsible for any debt left?
The parent's estate is responsible for their debts. If there is no estate the creditors are out of luck. However, if the parent left any assets, the estate must be probated in order to give creditors an opportunity to file a claim.
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.
If a parent dies are the children responsible for the funeral costs if the parent had nothing?
Morally and ethically yes, but not legally.
Are children responsible for parent's debt after the parent dies according to Michigan probate law?
In Michigan the debts of the deceased are the responsibility of the estate. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in Michigan for help.
If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
When a parent dies in California and leaves no money are the children responsible for debt?
The children are not responsible unless they were also signatories on the debt. 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.
If a 20 something year old dies and has debt under their name is the parent responsible for the debt?
No. The person's estate would be responsible for the debt. The creditor could attach any assets owned by the decedent but if there are no assets the creditor would be out of luck.
