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Do heirs also inherit the decedent's debts?
No. The decedent's estate is responsible for the debts of the decedent. However, no distribution of assets can be made until the estate is probated and debts are paid.
Can credit card companies force heirs to sell real estate after a death?
If the credit card company has filed a claim against the estate the debt must be paid before any assets can be distributed to the heirs. In any estate the debts must be paid first. The heirs get any assets that are left after the payment of debts. If the estate doesn't pay the bill the creditor can force the sale of the real estate to collect the debt. If the property is the only asset and the heirs want to keep it then the heirs must pay the credit card bill.
How do you divide an estate when two of three heirs owe money to the estate?
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
Can you file for bankruptcy if the deceased parent's nursing home bills cannot be paid because there are no more funds in the estate?
You don't need to file bankruptcy. Your parent's estate is responsible for their debts. The estate must be probated and their debts must be paid before any assets can be distributed to the heirs. If the debts are greater than the assets in the estate the estate will be declared insolvent, the court will order a scheme of payment from limited funds, if any, and if there is not enough money the creditors are out of luck.You don't need to file bankruptcy. Your parent's estate is responsible for their debts. The estate must be probated and their debts must be paid before any assets can be distributed to the heirs. If the debts are greater than the assets in the estate the estate will be declared insolvent, the court will order a scheme of payment from limited funds, if any, and if there is not enough money the creditors are out of luck.You don't need to file bankruptcy. Your parent's estate is responsible for their debts. The estate must be probated and their debts must be paid before any assets can be distributed to the heirs. If the debts are greater than the assets in the estate the estate will be declared insolvent, the court will order a scheme of payment from limited funds, if any, and if there is not enough money the creditors are out of luck.You don't need to file bankruptcy. Your parent's estate is responsible for their debts. The estate must be probated and their debts must be paid before any assets can be distributed to the heirs. If the debts are greater than the assets in the estate the estate will be declared insolvent, the court will order a scheme of payment from limited funds, if any, and if there is not enough money the creditors are out of luck.
Do adult children have to pay off deceased parents debts from their inheritance?
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.
Are heirs responsible for medical bills in Texas?
The estate has the responsibility to settle all debts not the heirs. Once that is done, the remainder can be distributed.
Are heirs responsible for deceased fathers debt In Idaho?
Debts of the DeceasedI am not an attorney/lawyer, so this answer will of necessity be a lay answer until it can be improved by a more qualified source.Usually, in most states the debts of a deceased do not just "go away or disappear." The "estate" is legally responsible for his debts. Of course, IF a deceased had no money or property [real or personal], then there IS NO estate, and there really are no heirs, and they do not have to pay the debts of the deceased.On the other hand, IF there is money or property [real and/or personal], then there is an estate, and the estate is legally responsible to pay just [legitimate] debts of the deceased. If there is no cash money in the estate, then the property of the estate must be used to pay the legal debts.Those debts are legally the responsibility of the estate. That means that if the deceased had any money or property, the debts must be paid before any distribution of those assets to the heirs. If there is enough money in the estate, then it is used to pay off the legal debts of the deceased.IF there is no money, or not enough, AND the heirs do not want to sell the property [real and/or personal] of the estate to pay the legal debts, and since the debt must legally paid, that means the heirs must pay the estate debts.
Is the estate responsible for medical bills if there is no will?
Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.
What is an estate administrator?
Someone who handles the estate for payment of the decedent's debts and distribution to the heirs.
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.
Do heirs also inherit the decedent's debts?
No. The decedent's estate is responsible for the debts of the decedent. However, no distribution of assets can be made until the estate is probated and debts are paid.
Are children of a deceased mother responsible for her utility bills?
The estate has the responsibility to settle all debts, including utility bills, not the heirs. Once that is done, the remainder can be distributed.
Are heirs responsible for medical bills in Nevada?
It is not the heirs, 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.
Do you have to pay the debts of your parents if they die?
The estate of a decedent is responsible for the debts. The debts must be paid before any assets are distributed to the heirs.
Do heirs also inherit the decedant's debts?
They do not, however, they cannot inherit anything until the estate has resolved all debts.
Who is responsible for your dead mothers debt?
Your mother's estate is responsible for her debts. The debts must be paid off before any money can go to the heirs. However, if she had more debts than assets, the heirs are not responsible for the difference.
When a person dies is the remaining daughter responsible for the debt of credit cards?
No. The deceased person's estate is liable for any of the debts of that person, but heirs are not liable for debts if the assets in the estate are not enough to cover the debts.
