The estate is responsible for paying off any debts. However, in most cases if the debts exceed the value of the estate, the child is not required to pay the difference.
This may not keep the collectors from trying.
A person's estate is responsible for their debts unless someone else agreed to pay them.
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
The debts of the decedent must be paid by the estate. In fact, the debts must be paid before any assets can be distributed to the heirs.
No, the executor is responsible to insure the estate is taken care of. Them means either selling the house or paying off the mortgage. One way or another the debts have to be resolved before the estate is closed.
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
The decedent's estate is responsible for the debts of the decedent.
It is not the parents, but the estate that is responsible for any remaining debts. That will include medical bills. If there is not enough in the estate to cover them, someone will not get paid.
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
The debts of the parents are paid by the parent's estate, not their children.
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.
It is not the parents but the estate that is responsible for any remaining debts. That will include medical bills. If there is not enough in the estate to cover them, someone will not get paid and the heirs may get nothing.
Children are not responsible for the debts of their parents. The estate must settle the debts. The exception would be if a child signed any paperwork gaurenteeing the medical costs.
Children are not responsible for their parents debts unless the co-signed for them. One of the primary reasons someone should open an estate is to resolve 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.
Generally the decedent's estate is responsible for the debts.
The child is not responsible. 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.
The estate of a decedent is responsible for the debts. The debts must be paid before any assets are distributed to the heirs.