Yes. There are some limitation based on the total value of the estate, but if real property is involved, you need the finalization of probate. * Florida allows married couples to hold real estate as Tenancy By The Entirety. When the property is titled TBE it passes directly to the surving spouse and is not subject to probate proceure or creditor attachment if the deceased spouse is the sole debtor.
It depends on whether they were listed on the deed. Most courts would rule that the spouse benefited from the debt and can be held responsible. The estate has to sell the property or settle the loan before she can inherit anything.
Depends on the state you live in. If it is a community property state, all debts and assets are considered to belong to both spouses. If not, then only the person who signed the contractual agreement is responsible. However, jointly titled assets are not necessarily exempt from creditors. It depends on how they are held and what they are.
Yes, however, the answer depends on specific situations associated with the partnership/marriage and the state in which they live in. If the state is a communal property state and the surviving spouse that is not a borrower had ANY benefit from the loan, that spouse owes the money as a borrower (despite not being a borrowing party on the loan). In this case, if the surviving spouse is not in a position to pay for the loan, a negotiation would be warranted soon after the (within a month or two of) deceased spouses death. If the state is a non-communal property state, the estate of the deceased spouse will first be looked to in order to provide the funds to pay off all debts. If there are enough assets to cover the debt, the loan will be paid in full, regardless of the surviving spouse's wishes as the lender's rights come before those that may be beneficiaries to any estate proceeds. If there are not enough assets to cover the loan, the lender may look to liquidate the asset (the surviving spouse's home) in order to satisfy the debt. If the home is NOT in the surviving spouse's name (either through joint tennancy or named ownership), the surviving spouse may not be able to intervene.
If the spouses name isn't on the account, it's illegal. If the spouse signed your name, it's forgery.
The executor's duty is to apply the deceased's assets, to the extent that it is possible towards meeting the deceased's liabilities. In the even of insufficient funds, after funeral and testamentary expenses - typically costs incurred post mortem, the outstanding bills are paid pro rata. The heirs, especially dependent spouses and children would get nothing. Effective estate planning would reduce the possibility of dependents being left high and dry.
No - the surviving spouse is not liable for the deceased person's bills !
You have to apply to a court for probate on his estate.
The wife is not directly responsible unless she is on the contract. Florida courts could rule that the spouse benefited from the debts and could be held responsible. The estate has to pay the debts before she can inherit anything.
Only if they signed a contract or agreement to accept the responsibility. If not, the deceased's ESTATE becomes responsible for any debts.
The estate is responsible for all the debts of the deceased. Indirectly the spouse will have to pay them off from the estate before she can inherit.
YES, if you die, then the next of kin is responsible for your debt.
no if they die the money they are owed will be taken out there bank account the remaning will be given out according to there will
In every state, the estate is responsible for the debts of the deceased. Only after they are resolved can the estate be closed any remainder distributed.
In Colorado, a surviving spouse is entitled to an "elective share" of the deceased spouse's estate, which is typically one-third of the estate. If the deceased spouse's will does not provide for the surviving spouse, they can choose to receive the elective share instead. Colorado also has laws that protect a surviving spouse's rights to the marital home and certain personal property.
The GM Family Legacy Program provides eligible children of certain deceased GM retirees and surviving spouses the opportunity to continue.
In most cases all of the debts of the deceased are the responsibility of the estate. The estate has to clear them up before anyone else gets anything. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
IF by S.S. you are referring to social security the payments stop when the person is deceased. Surviving children and spouses are entitled to payments depending on the age and circumstances