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The executor presents a plan to the court showing what debtors will be paid and what amounts they will get. If the court approves, the payments are made and the estate is closed. The rest of the debt will get written off as a loss by the debtors.

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15y ago

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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.


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Are the joint heirs responsible for paying one brothers debt in a judgment from the proceeds of an estate settlement?

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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?

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