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What else can I help you with?
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.
Who is responsible for creating the national debt?
The National Debt is the responsibility of the government. This debt comes from government spending. This spending is acquired from government programs and foreign aid.
Is it possible for you to transfer debt to another person?
Yes, it is possible to transfer debt to another person through a process called debt assignment or debt assumption. This typically involves the original debtor and the new debtor agreeing to the transfer of the debt responsibility.
Is debt shared when married?
In most cases, debt incurred before marriage remains the responsibility of the individual who incurred it. However, debt acquired during marriage may be considered shared, depending on the laws of the state and how the debt was acquired.
How does being a cosigner affect your debt-to-income ratio?
Being a cosigner can increase your debt-to-income ratio because the debt you cosign for is considered your responsibility, even if you are not the primary borrower. This can impact your ability to qualify for loans or credit in the future.
If I signed the hospital admission forms as POA am I responsible for the debt after my mother's death?
No. Your mothers estate would be however There is no estate. She did not own a home or property.
If a parent appoints a son to be POA over the mother and the father dies is the POA legal?
Yes, the Power of Attorney (POA) remains legal even after the death of the father, as the authority granted to the son pertains to the mother, not the father. However, the son can only act on behalf of the mother in accordance with the terms of the POA. If the mother passes away, the POA becomes void. It's important to ensure that the POA complies with relevant laws and requirements in the jurisdiction where it was created.
As POA am I resposible for my mothers debts who is still living?
You are not personally responsible. If you have committed fraud or been negligent in handling the funds they could sue. But the debt remains that of the mother.
Who is responsible for debt incurred in nursing facility if the POA changes during the time the debt is being paid on?
The principal is responsible for their own debts. A Power of Attorney doesn't create any obligations in the attorney-in-fact to take personal responsibility for the debts of the principal unless the AIF mishandled funds.
How do you obtain a copy of your brothers poa on mother to see if you have been excluded from medical information?
how do I obtain a copy of my brothers POA on my mother to see if I have been excluded from medical information.
If you are poa for your mother and she dies can you get money from her bank account to help with funeral cost?
Strictly speaking , no, you can't. By law, the POA that gave you authority to handle your mother's accounts became ineffective immediately upon her death. Using the POA after the death of the person who issued it is illegal.
Does signing powers of attorney over to someone else stop creditors?
Executing a Power of Attorney has nothing to do with your debt. A POA grants the attorney-in-fact the authority to act for you on your behalf by performing such tasks as your banking and bill paying, selling your home, managing your property, signing legal documents, etc. Your debt is your own responsibility. You can't assign it to someone else unless they agree to take responsibility for it in writing.
If you become power of attorney for a deceased sibling can you be held responsible for their debt?
No. There seems to be some confusion as a POA becomes null and void upon the death of the grantor. However, the POA grantee is never responsible for the debt of the grantor beyond said grantor's financial assets.
If your father appointed your brother to POA over your mother and your father died is the POA still legal?
In the US: Your father cannot "appoint" anyone as attorney-in-fact under a POA for your mother.That POA would not be legal unless your mother signed it. If she did sign it she can revoke it at any time in writing and deliver a copy to your brother and any facility where it has been used in the past. If she didn't sign it, the POA was only effective for your father and it expired when he died. Only your mother can appoint her own attorney-in-fact, voluntarily. She is an independent adult with her very own legal existence and rights. She can execute a POA and appoint who she chooses.
How do you regain power of attorney from your mother's sister?
You cannot "regain power of attorney". Your mother must revoke the POA in which she named her sister and send a notice in writing to her sister and any facility where the POA was used or filed. She must then execute a new POA naming you as her attorney-in-fact.If your mother lacks the legal capacity to take the steps outlined above on her own behalf then you must petition the court to be appointed her legal guardian. A legal guardianship would extinguish the POA. If that is the case you should consult with an attorney who can review the situation and help expedite your petition for guardianship.You cannot "regain power of attorney". Your mother must revoke the POA in which she named her sister and send a notice in writing to her sister and any facility where the POA was used or filed. She must then execute a new POA naming you as her attorney-in-fact.If your mother lacks the legal capacity to take the steps outlined above on her own behalf then you must petition the court to be appointed her legal guardian. A legal guardianship would extinguish the POA. If that is the case you should consult with an attorney who can review the situation and help expedite your petition for guardianship.You cannot "regain power of attorney". Your mother must revoke the POA in which she named her sister and send a notice in writing to her sister and any facility where the POA was used or filed. She must then execute a new POA naming you as her attorney-in-fact.If your mother lacks the legal capacity to take the steps outlined above on her own behalf then you must petition the court to be appointed her legal guardian. A legal guardianship would extinguish the POA. If that is the case you should consult with an attorney who can review the situation and help expedite your petition for guardianship.You cannot "regain power of attorney". Your mother must revoke the POA in which she named her sister and send a notice in writing to her sister and any facility where the POA was used or filed. She must then execute a new POA naming you as her attorney-in-fact.If your mother lacks the legal capacity to take the steps outlined above on her own behalf then you must petition the court to be appointed her legal guardian. A legal guardianship would extinguish the POA. If that is the case you should consult with an attorney who can review the situation and help expedite your petition for guardianship.
My Step-father died am i responsible for his debt?
No, you are not responsible for his debt. His estate has that responsibility.
What type of liability so stockholders have when it comes to corporate debt ad responsibility?
what type of liability do stockholders have when it comes to corporate debt and responsibility
