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What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
What is considered a good debt to assets ratio for a company?
A good debt to assets ratio for a company is typically around 0.5 to 0.6, which means that the company has more assets than debt. This ratio shows how much of a company's assets are financed by debt, with lower ratios indicating less financial risk.
Are the joint heirs responsible for paying one brothers debt in a judgment from the proceeds of an estate settlement?
The estate is responsible to pay out the proper values to the beneficiaries. They have no reason to give more than the fair share toward anyone receiving assets.
What is considered a good debt to total assets ratio?
A good debt to total assets ratio is typically around 0.5 or lower. This means that a company has more assets than debt, which is generally seen as a positive indicator of financial health.
What is the debt ratio average for the company?
The debt ratio average for a company is a measure of how much of its assets are financed by debt. It is calculated by dividing total debt by total assets. A higher debt ratio indicates that a company relies more on debt to finance its operations, while a lower ratio suggests a more conservative approach.
Is wife responsible for debts of deceased husband in the state of Ohio?
The estate has the responsibility. And the assumption is that the wife inherits at least half, if not all, of the husband's assets. But the estate has to liquidate all assets before they can transfer them to the spouse. One way or another, the spouse really ends up paying the debt. If there is more debt then assets, the debt will normally be closed out.
What happens to a debt if a person has nothing in the estate?
The executor will show the plan to the court. It will include all debts and all assets. If the debts are more than the assets, the debts will be cancelled.
Is a executor in NY state responsible for debt if it is more than the assets?
The executor is not personally responsible for the debts. If the estate is not sufficient, the debtors will not get paid in full.
What is considered a good debt to assets ratio for a company?
A good debt to assets ratio for a company is typically around 0.5 to 0.6, which means that the company has more assets than debt. This ratio shows how much of a company's assets are financed by debt, with lower ratios indicating less financial risk.
Are the joint heirs responsible for paying one brothers debt in a judgment from the proceeds of an estate settlement?
The estate is responsible to pay out the proper values to the beneficiaries. They have no reason to give more than the fair share toward anyone receiving assets.
What is considered a good debt to total assets ratio?
A good debt to total assets ratio is typically around 0.5 or lower. This means that a company has more assets than debt, which is generally seen as a positive indicator of financial health.
What is the debt ratio average for the company?
The debt ratio average for a company is a measure of how much of its assets are financed by debt. It is calculated by dividing total debt by total assets. A higher debt ratio indicates that a company relies more on debt to finance its operations, while a lower ratio suggests a more conservative approach.
What happens when parents die and their debt is more than the assets by over 60000 in credit card debt and is this debt cancelled?
the debt dies with them... you owe nothing
How do you become debt free without assets?
To become debt free without assets, you can start by getting a job and paying your bills. Set up a budget and follow it. Be sure to include savings and investments. Do not add any more debt!
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.
Can adult children be responsible for burial or paying debt of a deceased parent if said parent abandoned them as a young child and there has been no contact for more than 20 years?
Children are never responsible for their parents debt, unless they co-signed for the debt. Those bills are the responsibility of the estate. The executor will pay them or inform the debtors of the lack of assets.
What is the act of dishonestly appropriating or secreting financial or real estate assets by one or more individuals to whom such assets have been entrusted?
embezzlement
