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When there is no money is left in the estate to pay bills who is responsible?
Wiki User
∙ 13y ago
The estate has to pay off the debts. If the estate does not have the assets to do so, they distribute as best they can. If the court approves the distribution plan, the debts are ended.
Wiki User
∙ 13y ago
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Who is responsible in paying the bills of a house left to a person in the will when the will is still not settled?
The estate has that responsibility. Until the estate is settled, the house ownership and responsibilities have not been transferred.
When does an executor of a will get paid by the estate if they have to pay outstanding bills left by decedant?
The executor should never pay the bills themselves. They should have the estate do it. Yes, with proper receipts, there should be no problem with getting the money back.
Is the executor respondsible for debt when there is no money left in the estate?
No. The estate is responsible for the decedent's debts.However, debts must be paid before any property can be distributed. If there isn't enough money in the estate the debts must be paid in the proper order which is set by law in each state. The court appointed executor IS responsible for following the law in the settling of an estate.If there are debts and no estate the estate is declared to be insolvent and the creditors are out of luck.
Money left over after the bills are paid is referred to as?
a fixed income
Money left over after the bills are paid is referred to as what?
discretionary income.
What if deceased mother left bills with no estate?
The children are not personally responsible for the bills, unless they co-signed them. However, the estate is responsible. Which means that the estate may be depleted and a lien placed on the house. The children may not inherit anything.
Are you responsible for deceased mothers bills?
If your mother died without any assets but died flat broke, you are not responsible for her bills. You do not have to pay her bills out of your own money. (You have to pay any expenses you arrange for after she dies. If you buy a funeral you have to make sure it is paid for.) However, if your mother left you money and you are the executor of her estate, you must pay her bills.
Is a wife responsible for her husbands medical bills when he dies?
Indirectly she will pay for the bills. It is the responsibility of the estate to pay the bills and she will inherit whatever is left over.
Are you responsible for your deceased mothers credit card bills in Oklahoma?
The estate of the deceased is responsible for resolving the debts left behind. This is the reason that an estate is a good idea, it provides a means to settle the debts.
Who is responsible in paying the bills of a house left to a person in the will when the will is still not settled?
The estate has that responsibility. Until the estate is settled, the house ownership and responsibilities have not been transferred.
Is a daughter still at college responsible for her fathers debts after his death even though he left no money?
The estate is responsible for the debts of the decedent. If there is no estate the creditors are out of luck.
When does an executor of a will get paid by the estate if they have to pay outstanding bills left by decedant?
The executor should never pay the bills themselves. They should have the estate do it. Yes, with proper receipts, there should be no problem with getting the money back.
Is the surviving spouse responsible for the medical bills of a deceased spouse in NM?
The estate is responsible for all the debts of the deceased in New Mexico. The spouse will only inherit what is left after the debts are resolved.
What if your uncle remembered you in his will?
The executor of the estate will pay off the bills and taxes and send you what ever it is that was left to you, whether it was specific items or money.
After estate has no funds left what does the probate attorney do with rest of bills?
The debtors have to write off the money. If the assets of the estate do not cover the bills, there is little they can do, unless there is a co-signer to the obligation. It is not uncommon for the estate to be unable to cover all of the debts, particularly if there were major medical bills. All cases are different and it is best to contact a probate or estate planning attorney to ensure protection of your assets.
What happens when your parents are deceased and there is no money left in the estate to pay for medical bills?
If there is any other property such as real estate then it must be sold to pay the debts. If there are no assets the estate will be deemed insolvent by the court and the creditors are out of luck.
Deceased parents left debts but left no estate are you as daughter with power of atty responsible?
Your power of attorney was extinguished when your last parent died. Unless you were a co-signer on their debts, ordered goods or services for them or benefitted from the amounts due (utility bills if you lived with them, for example) their estates are responsible for their debts. If there is no estate the creditors are out of luck.
