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If the parent's spouse is still living, that person may be solely responsible for paying off the debt. If both parents have passed away, the estate will be responsible for paying off most debts. In this case, any money left in accounts (savings, money market, investments, etc.) will go to paying the debts before money is given to beneficiaries.
This is often a murky area of the law and with the economy in the tank you may have creditors calling you (or the executor of the will) seeking repayment on a debt. The best way forward would be to route these requests for repayment through the lawyer handling the execution of the will.
What else can I help you with?
Can you be sued for bills 13 years after the death of a parent in ny state?
can you be sued for hospital bills 13 years after the death of a parent in the state of NY?
What happens to loan with one parent if that parent dies?
Some institutes, if its a smaller loan will allow you to fax in a death ceterifercate.
What happens to parent plus loans in the event of the borrower's death?
In the event of the borrower's death, Parent PLUS loans are typically discharged, meaning the remaining balance is forgiven and the responsibility for repayment does not pass on to the borrower's estate or family members.
Are adult children responsible for medical bills of single parent when death occurs in Minnesota?
Contact a lawyer. The estate would be, but most likely not the children. To make sure call a lawyer.
Is the spouse responsible for medical bills after death of a spouse in Colorado?
s the spouse responsible for medical bills after death of a spouse in Colorado?
In Arkansas must adult children pay deceased parent's medical bills out of parent's payable on death accounts if probated portion of estate is inadequate to cover the medical bills?
Arkansas, like most states, look at a number of factors involved. 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 child responsible for medical expenses related to the parent's death?
Only if the adult child signed an agreement to take such responsibility. If that is not the case, the medical bills will be included in the probate procedure and handled in accordance with state laws.
When was Death Happens - film - created?
Death Happens - film - was created in 2009.
Does one sibling living with a parent that dies have more rights than other siblings not living with parent at the time of death?
A parent may leave one child who has been of extraordinary help and comfort a greater share of their estate by will. However, if the parent dies intestate, as often happens, then the property will pass according to the laws of intestacy in your parent's state. You may check the laws for your state at the link below.
Ibig sabihin ng death bills?
DEATH Bills - A set or a series of bills that will allow D - Divorce, E - Euthanasia, A - Abortion, T - Total Contraception, and H - Homosexual (same - sex) Marriage in a particular country if passed into law.
Does the custodial parent have a legal obligation to inform the non custodial parent in child's death?
yes
Can a parent's debt fall on his children after the parent's death if the parent has no estate to speak of?
Not sure if the same applies worldwide but certainly not in the UK
