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Liability for debts varies greatly by circumstances. And the assumption is that the wife inherits at least half, if not all, of the husband's assets. But the estate has to liquidate all debts before they can transfer them to the spouse. One way or another, the spouse ends up paying the debt. The spouse has some right in all real property owned by the husband. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.
What else can I help you with?
When a person dies is the remaining daughter responsible for the debt of credit cards?
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
If husband dies in ct does wife have to pay off the balance of his credit card?
In Connecticut, a wife is generally not personally liable for her husband's credit card debt unless she was a joint account holder. If the husband passes away, his estate is responsible for settling his debts, including credit cards, using his assets. If the estate does not have enough assets to cover the debts, they may go unpaid, and creditors cannot pursue the surviving spouse for those debts. However, any joint debts or debts incurred together would still be the responsibility of the surviving spouse.
Can a wife in WI be held liable for a husband's debts?
Most states, yes, so is likely if incurred during union.
In the state of Texas if a parent dies with no will no estate real estate are the children liable for credit card debt or outstanding medical bills?
Only if they guaranteed the bills or debts. The estate needs to be set up to handle the debts. If there are no assets in the estate, it can close the debts.
Can husband be held liable for wifes debts in state of Arkansas?
In Arkansas the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
In Texas if your husband dies and has a car in his name only are you liable for the bill?
The estate is generally liable for all bills and expenses (not you). Hire a probate attorney to help sort this out. The estate will need an executor.
If your spouse dies in Arizona and he has credit cards in his name is the wife liable for them?
In Arizona, a spouse is generally not personally liable for the credit card debts of their deceased partner unless they were joint account holders or co-signers on the accounts. The debts typically become the responsibility of the deceased's estate. If the estate does not have sufficient assets to cover the debts, they may go unpaid, and creditors cannot pursue the surviving spouse for those debts unless they were jointly liable. It's advisable for the surviving spouse to consult with a probate attorney for guidance specific to their situation.
If someone dies in debt how is the debt paid off?
When someone dies, any debts they leave are paid out of their 'estate' (the money and property they leave behind). You're only responsible for their debts if you had a joint loan or agreement or provided a loan guarantee - you aren't automatically responsible for a husband's, wife's or civil partner's debts.
Is a personal representative liable for the decedent's debts when there is no estate?
The personal representative is not responsible for the debts. The estate pays the debts.
If your husband dies are you responsible for his debts in Florida?
The wife is not directly responsible unless she is on the insurance or contract. Most courts would rule that the spouse benefits from the debts and can be held responsible. The estate should pay the debts before she can inherit anything.
Is an incorporated company liable for its business debts?
yes
Is the estate liable for the debt on a surviorship deed?
The estate is liable for the obligations of the deceased. They would have to settle the debts.
