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The estate has to stand good for the debts of parents when they pass. In no way shape or form are you liable for their debt unless you cosigned on something with them. If mom and dad pass away and they dont own a house or a bank account or anything then the debts just do not get paid. Now if they do have money in a checking account and other assets then the assets will be sold to settle the debts. Do not let the debt collectors lie to you. Check out the Federal trade commissions website. Debt collectors will break laws all day to get someone to pay for a bill that is not even their responsiblity.
Now if you were asking this as a moral question then I would still say no.
Check out Dave Ramsey he can help you live like no one else! And also gets plenty of calls like this on his national radio show.
Sometimes, but in the case of adult children, parents should teach them how to take responsibility for their mistakes.
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If my husband dies and leaves credit card debt and our childrens parent plus loan debt am I responsible for assuming the debt in PA?
not if you have death insurance on the loan and credit cards
Is a surviving parent responsible for deceased adult child's debt?
ONLY if the Parent Co-Signed for the Debt. Otherwise NO.
Would a parent be responsible for their deceased adult childs debt in NY state?
NO
Can an adult child inherit a parents debt if there are no assets?
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
Can a parent be held responsible for a minor child's debt?
Yes a parent can be held responsible for a minor child's debt if the parent co-signs on a loan with the child. For credit cards, if the child is an authorized user on a parent's account the parent is also responsible for this debt.
Are adult children responsible for deceased parents debt in Minnesota?
Not unless they co-signed for the debt. The estate is responsible for any remaining debts. If there is not enough in the estate to cover them, someone will not get paid.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
Are adult beneficiaries responsible for deceased parents debts?
No, you are not responsible for their debt. The only person legally responsible for a debt is the person that signed the contract for the debt. It doesn't matter if your dead parents left you money. Collection agencies cannot legally collect someone else's debt from you - but they will try. See the FDCRA to know your rights in debt collection.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
Is it legal to make a mother to repay her son's debt?
I am not an attorney, but if I were asked to judge I would say that if the mother somehow took part in the debt, by co-signing for example, or if the son is a minor and under the mother's authority, then she is responsible for the debt. If the son was an adult and the mother made no legal agreement, then no, she is not responsible for the debt.
Will become responsibe for adult son's debts become executor?
The estate is responsible for the debts of the deceased. The executor is not personally responsible for them.
You are single who is responsible for your debt and assets?
If you are an adult, you are responsible for your debts and assets. If you were married, and the debts and assets were joint, then you and your spouse would both be responsible for them, unless you divorced, and it was settled in court at the time of the divorce.
