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Who is responsible for debt after a death?


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Answered 2020-05-30 05:48:50

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Answered 2007-02-22 16:01:35

The estate of the deceased. The estate of the deceased is responsible for all debt incurred by the deceased. After all debt has been resolved, any remaining resources are available to the beneficiaries.


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No, you are not responsible for the debt. The power of attorney terminated at the death of the deceased. The estate is responsible to resolve the debts.

Heirs are not responsible for any debt. The debt is the responsibility of the estate. If there are not adequate assets, the debtors don't get paid and the heirs will not receive anything.

The borrower, i.e., the person who signed the note, is responsible for payment. If the borrower has died their estate is responsible. If there is no estate the creditor is out of luck. If there was a co-signer then they will be held responsible for paying the debt.

Actually, the answer is the credit card holder is responsible for the debt if single, otherwise the spouse may be responsible for a partners debts. If it was made while they were married, otherwise, the bank can't collect the debt.

Your estate is responsible. Other card holders on the account have a responsibility as well.

AnswerNo, you need to send a copy of the death certificate to the credit card company. You are not responsible for your father's debt.

who is responsible for baptist church debt

The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.

The student's estate is responsible for paying their debt unless there was a co-signer. If there is no estate the lender is out of luck. If there was a co-signer the lender will seek payment from that party.

Yes. Your estate is responsible for your debts after your death.

I live in California, and my grandmother passed away and I contacted the credit card companies, told them she died, sent a death certificate, and they took care of the debt.

There is no specific amount of years that you are responsible for a debt. This depends entirely of the terms of the debt.

Both of the spouses are responsible for the debt. They both benefited from the debt, so they are held responsibility.

I think that would be paid out of the estate and not by the child.

Generally a person's estate is responsible for the decedent's debts. If there is no estate the creditors are out of luck. They should be notified of the death.

No. The father's estate is responsible for his debts. If there is no estate the creditor is out of luck.

In Kentucky the estate will be responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed and any remainder distributed.

You are not responsible for your sibling's debt unless you co-signed and agreed to be responsible for it. If you co-sign for a debt and the primary borrower doesn't pay then you will be held responsible for repayment.

Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.

No, you are not responsible for his debt. His estate has that responsibility.

The estate of the deceased is responsible in Indiana. The executor is responsible for listing all assets and debts. The debts are paid and anything left is distributed.

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