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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.
My Step-father died am i responsible for his debt?
No, you are not responsible for his debt. His estate has that responsibility.
Is an executor responsible for the debt?
Not personally. The estate is responsible.
In Colorado is husband responsible for his deceased wife's debt?
Her estate is responsible for the debt. In most cases he will have to pay from the estate or his own pockets.
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.
What Massachusetts law describes who is responsible for a deceased persons credit card debt?
The probate code would explain the process for closing an estate.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
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.
Who is responsible for debt when a person dies in Washington?
The estate is responsible for debt. That is one of the reasons for opening probate.
Who is responsible for School debt after death?
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.
Is a widow responsible for her husband's debt?
The husband's estate is responsible. If she was a co-signer or beneficiary of the debt, she will have some responsibility.
If both parents die who is responsible for the debt?
The estate.
