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The government is responsible to pay all back debts.
Cameron Hirthe
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Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Is a beneficiary responsible to pay debts?
No a beneficiary is not responsible. One of the primary reasons to open an estate is to resolve such 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.
What if there are no estates will the children have to pay debts left by parents?
A person's estate is responsible for their debts unless someone else agreed to pay them.
When a business owner dies who is responsible for the debt?
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
When there is no money is left in the estate to pay bills who is responsible?
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.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
What is the number one reason why consumers default on their debts?
They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!They do not have the money to pay back their debts!
Is a beneficiary responsible to pay debts?
No a beneficiary is not responsible. One of the primary reasons to open an estate is to resolve such 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.
Who is responsible to pay back all depts?
The debts of the US Federal government is responsible for paying all of its debts. This can be done by raising taxes, passing tariff acts and reducing government spending to not allow the debt to enlarge.
What if there are no estates will the children have to pay debts left by parents?
A person's estate is responsible for their debts unless someone else agreed to pay them.
Who is responsible to pay back all U.S depts?
The debts of the US Federal government is responsible for paying all of its debts. This can be done by raising taxes, passing tariff acts and reducing government spending to not allow the debt to enlarge.
What if you are the executor of the will m i responsible for any debts if the home was not in my name?
Being the executor does not make you personally responsible. The estate has to pay any debts. If the estate cannot pay them, the debtors do not get paid.
Are you responsible for husbands debts after he dies in Pa?
The wife is not directly responsible unless she is on the contract. Most rules state that the spouse benefits from the debts and can be held responsible. The estate has to pay the debts before she can inherit anything.
Are the surviving children responsible for a deceased parent's debts?
The estate is responsible for paying the debts of the decedent. No distribution can be made until the debts are paid. If there is not enough to pay the debts the court will declare the estate to be insolvent and the creditors are out of luck.
Are surviving children responsible for deceased parents debts in the state of Virginia?
The estate is responsible for the debts. If the estate has no assets, the creditors will not get paid. If there are not enough assets to pay the debts, the beneficiaries will not receive anything.
Do you have to pay the debts of your parents if they die?
The estate of a decedent is responsible for the debts. The debts must be paid before any assets are distributed to the heirs.
Do the children have to pay the debts of their deceased parents?
If you were not a joint debtor you are not responsible for repayment of deceased parent(s) debts.
