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Who is responsible for paying off a Parent PLUS loan if the parent borrower passes away?
If a parent borrower passes away, the responsibility for paying off a Parent PLUS loan typically falls to the borrower's estate or the student who benefited from the loan.
If when made a Power of Attorney and subject matter passes away and has only amassed debts and has no savings who bears the cost for debts and funeral arrangements?
The power of attorney expires on the death of the principal. The estate is responsible for the debts, and they may request a full accounting from the power of attorney.
Are the children responsible for the debts of a parent that has passed away?
Typically the estate is responsible for paying the debts, including the medical bills of the deceased. If a child has co-signed any paperwork regarding medical procedures, they may be held liable. If they hope to inherit a house, they may have to pay the bills to avoid the house being sold to pay the debts.
Is the husband respoNsible for spouse credit card debt if the spouse has passed away?
Debts of the spouse are considered to have benefited both of them. He can be held responsible for the debts.
What to do when your mother passes away and owes a lot of bills and has no estate is the power of attorney then responsible for those bills?
The power of attorney ends with the death of the grantor. Someone will open an estate in order to settle the debts.
Is the estate responsible for the persons debt after they pass away?
Yes. The estate is responsible for the debts of the decedent. Those debts must be paid before any assets are distributed to the heirs.
When your husband passes away do you have to pay his credit card bills even if your name is not on them?
Maybe. In some community property states a surviving spouse is responsible for all the debts that were incurred during the marriage even if he or she did not hold the account.
When an adult passes away who is responsible for their funeral?
Their closest relative probably
Both of your parents have passed away and left you executor of estate are you responsible for all their debt left behind?
The estates are responsible for the debts. The attorney who is handling the estate will let you know how the debts will be paid.
In the state of Ohio is a spouse responsible for medical bills or credit card debt after the spouse has passed away?
My husband has termial cancer and I was wondering when he passes will I be responible for any credit card debts he has and any of his medical bills? We live in the state of Ohio.
If your wife passes away, are you legally responsible for her outstanding bills?
In general, you are not automatically responsible for your deceased spouse's outstanding bills. However, the estate of the deceased may be responsible for paying off any debts using their assets before distributing any remaining assets to heirs. It is important to consult with a legal professional to understand your specific situation and obligations.
Are you responsible for medical debt of a loved one in Pennsylvania when they pass away?
No you are not personally responsible for the debt in Pennsylvania. The estate is required 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.
