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Will the debt of the parents have to be paid by the children when they die?
Wiki User
∙ 16y ago
The debts of the parents are paid by the parent's estate, not their children.
Wiki User
∙ 16y ago
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If both parents die who is responsible for the debt?
The estate.
Are children resposible for their parents debts after they die?
They are not directly responsible. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.
What happens when parents die and their debt is more than the assets by over 60000 in credit card debt and is this debt cancelled?
the debt dies with them... you owe nothing
Who pays credit card debt if you die?
The debt will be paid from your estate. If there isn't enough, then the debt is discharged. The debt itself will not pass on to next of kin but a sizable debt might mean none of the deceased's estate does either.
If you die before your debt is paid does your estate pay it?
Yes. Your estate is responsible for your debts after your death.
Who is responsible for a persons debt when they die?
The estate will be responsible. If there are not enough assets to cover the debts, then they will not be paid.
What happens to my credit card debt after I die if I have a power of attorney?
If you have money or property - the bills will be paid. If you don't have any money the bills won't be paid.
What title do the children of nobility have?
Depends on the rank of the parents. They inherit the title when the parents die.
Are adult children responsible for credit card debt after their parents die?
No. The credit card companies will try to get you to pay off your parent's bills but you don't have it. It is all volunteer. I was glad to learn this since my mother is 81.
What do you do if parents die and there is no will?
Then their children claim all of the parents' possessions when they come of age. This is part of inheiritance.
What happens with your debt if you die and have no relatives?
Your creditors are entitled to be paid from any assets you have at the time of your death. Generally, if you have no assets they are out of luck.
Is there a way to give the next generation of sims on sims 4 the parents money?
Usually the children just inherit the parents' money once they die, as long as the children continue to live under the same household as their parents once they die.
