0
What else can I help you with?
If a 20 something year old dies and has debt under their name is the parent responsible for the debt?
No. The person's estate would be responsible for the debt. The creditor could attach any assets owned by the decedent but if there are no assets the creditor would be out of luck.
If a 16 year old is legally married in the state of Tennessee incurs debt who is responsible for that debt the spouse or the parent of that 16 year old child?
ID SAY THE SPOUSE IS RESPONSIBLE FOR THE DEBT
Who is responsible 3 year old repo debt when debtor dies?
The estate of the debtor is responsible. If there are not enough assets in the estate, it goes unpaid.
Does interest accrue on bequests not paid within one year of death?
This depends on what part of the world you live in. In the US, if you are part of the estate of a deceased person, depending on the type of debt, you may be liable to pay it off using any settlement from the estate.
Is surving wife responsible for medical bills of deceased spouse in state of Florida?
my mother in law died last year and her husband was responsible for her medical bills. Over $200,000.
Are adult children responsible for paying deceased parents taxes?
Taxes need to be filed by April 15th of the year that follows the person's death, whether money is due or a refund is owed. You still use the same form as your Mom would if she were alive, but write DECEASED where it asks for her name. If there are any medical bills for the year, they can be deducted on the return. Does your mom have enough money left to pay the taxes that are owed? If yes, then pay when submitting the tax return. If not, you might want to consult a tax professional. For more information on how to pay income taxes for a loved one who is deceased, take a look at this article http://www.centsableaccounting.com/resources/articles/deceasedtaxes.asp
Is a 17 yr old responsible for a credit card he lied on his age to get?
No he is not responsible for the debt as a 17 year old cannot enter into a legally binding contract. However, he would be responsible for the fraud.
What if the person receiving the 1099 is deceased?
what if the person receiving the 1099-c has been deceased for over 3 years and they send they send a 1099-c for 2009 tax year? There estate has been closed also for over 3 years
Can your 14 year old babysit your 9 year old?
Yes, if that person is responsible, mature and has experience.
In ny is a parent legally responsible for a medical debt of a 20 year old son?
In New York, a parent is not automatically responsible for the medical debt of their 20-year-old son unless they have legally agreed to be responsible, such as by signing a document promising to pay. However, if the son is a dependent on the parent's health insurance, the parent may be responsible for any copayments or deductibles. It is recommended to consult with a legal professional for specific advice related to this situation.
What happened to sharecroppers if they worked the same land year after year?
If a person stayed too long on a certain land they would have perpetual, or continuing, debt.
Average cost of living in US?
The average cost of living in the US is $20,194 per person a year. The average amount of debt for a person in the US is $8500.
