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That's one way to put it, yes. Most credit agreements state that heirs will be expected to make the debt good if the creditor does not purchase additional insurance to cover the debt balance in the case of debtor's death. The Probate Court will address the issue if you don't take care of it before the issue is presented to the court.
What else can I help you with?
How do you prepare an adjusting journal entry to record bad debts expense?
Bad debts DR Allowance for doubtful debt CR Some accounting practioners may use provison for doubtful debts instead of allowance for doubtful debts. Example of bad debts, suppose a customer was unable to pay their debts totalling $150. This will be the journal entry for the transaction: Bad debts 150 Allowance for doubtful debts 150
Why is it NOT recommended that consumers acquire debts?
Debts must be repaid with interest.
What happened to farmers debts during the 1920s?
the debts were erased because of the dsl tarrifs
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Is a beneficiary responsible to pay debts?
No a beneficiary is not responsible. One of the primary reasons to open an estate is to resolve such debts. The estate has 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.
Is syringomyelia hereditary?
Syphilis is not hereditary.
What is a hereditary infection?
Is is an infection that is hereditary
Is aids hereditary?
No it isn't hereditary, it either has to be through a shag or blood transfusion.AIDS is not hereditary.
How do you write a sentence using the word hereditary?
I can give you several sentences.That is a hereditary trait.He has a hereditary illness.Her family's hereditary home is in London.
Is the disease leucoderma hereditary?
no albinism is a hereditary.
Is Sacrococcygeal teratoma hereditary or environmental?
hereditary
Is Orthopnea hereditary?
Orthopnea is not hereditary. It is a symptom of a disease.
How can you use hereditary in a sentence?
There are plenty of ways to use hereditary in a sentence. You could say that your brown hair is hereditary.
Where the hereditary material of the cell is hereditary In bacteria?
With the exception of bacteria cells, hereditary material is held in the cell's nucleus.
Is cancer in dogs hereditary?
like humans cancer is hereditary
What is a good sentence for the word hereditary?
The disease was hereditary in their family.
Is hypothyroidism hereditary?
it can be..........it may result from autoimmune disorders that are hereditary.......
