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Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Can one beneficiary of an estate be responsible for the estate debts if the other beneficiary is the beneficiary of an annuity?
You have a very good question. If you are the cash beneficiary of the estate and the other beneficiary receives an annuity, the costs of settling the estate will come out of the cash. You should frame a motion to have the court review the matter and render a decision regrading the issue. The court may decide the other heir should pay a portion of the costs.
What if there are no estates will the children have to pay debts left by parents?
A person's estate is responsible for their debts unless someone else agreed to pay them.
When a business owner dies who is responsible for the debt?
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
In Michigan is a surviving spouse responsible for the deceased's credit card debts?
The estate of the deceased is responsible for the debts. Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse.
Is a surviving spouse responsible for the deceased spouse's debts if there is no estate in Kentucky?
In Kentucky the estate of the deceased is primarily responsible for the debts. Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse.
Is surviving spouse responsible for debt of deceased spouse in Florida?
Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse. The estate of the deceased is responsible for the debts.
Who is responsible to pay back debts?
The government is responsible to pay all back debts.
Who is responsible to pay back all debts?
The government is responsible to pay all back debts.
Are husbands responsible for wives secret debts?
Yes, they are going to be responsible. They are considered a beneficiary of the goods purchased.
Can a beneficiary be liable for any estate debt?
A beneficiary cannot be made responsible. However, they may not get anything from the estate, because it is responsible for ending all debts.
In Florida is the surviving spouse liable for debt?
In Florida the estate of the deceased is going to be responsible for the debts. Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse.
Does the executor of an estate have to pay the debts of a beneficery with the inheritance of that beneficery or can he just distribute the inherintace an let the beneficery be responsible for paying?
The executor distributes the money to the beneficiaries after the estate's debts have been settled to the satisfaction of the court. Each beneficiary is responsible for what they do with the money. There is no requirement, and it would be detrimental, for the executor to play bookkeeper and accountant and pay of the debts of the beneficiaries of the estate.
Is the beneficiary of an estate responsible for the deceased debts?
Debts are the responsibility of the estate. No will is necessary to open an estate. Before anything in the estate can be distributed, the debts have to be cleared.
Is surviving spouse responsible for credit card debt in North Carolina if she was not on the account when the other spouse died?
In North Carolina the estate of the deceased is responsible for the debts. Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse.
Is the beneficiary of an annuity responsible for paying the debts of the deceased?
No. The decedent's estate is responsible for paying the debts of the decedent. Generally, an annuity with a named beneficiary is not part of the probate assets much like life insurance payable to a named beneficiary. However, the recipient of an annuity should consult a professional regarding tax issues.
