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Yes, debtors can open an estate with the court and file their debts against it. The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
What else can I help you with?
Can you be reimbursed for funeral expenses and probate from your siblings from a sell of a estate?
These would be valid claims against the estate. It should be a debt that the estate pays. No they are not personally responsible for the debt. One of the primary reasons to open an estate is to resolve such 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.
When a parent dies in Louisiana are the children responsible for the debt still owed by the deceased parent credit cards taxes mortgages etc?
The estate is responsible for all debts. Please consult a probate attorney for specifics on how to open an estate.
What if your father died in Florida with 4K in credit card debts the estate was not big enough for probate and did not go through an administration is the estate still liable for the 4k in CC debt?
Yes, the estate is still responsible for the debt. Debts are one of the primary reasons someone should open an estate. 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.
What does it mean to open an estate?
The probate process of any will starts by presenting the will to the court and petitioning the court to open the estate. The judge approves the validity of the will. Many people contact and estate lawyer to help with the process.
Can you open estate account without probate?
No. You must be a court appointed fiduciary.
When a person dies in VA who starts probate proceedings?
Anyone with an interest in the estate, heirs and those that are debtors of the estate can apply to open an estate.
Can you open an estate for your ex husband?
If there was no will you have no legal standing to request the probate of your ex-husband's estate. If there was a will you cannot file for probate of the estate unless there are certain other circumstances such as: you have the will and are named in the will as an executor or beneficiary, and the will was specifically made to be effective even after a divorce.
How to open an estate and begin the probate process?
To open an estate and start the probate process, you typically need to file a petition with the probate court, submit the deceased person's will (if there is one), notify heirs and creditors, inventory assets, pay debts and taxes, and distribute remaining assets to beneficiaries according to the will or state law.
Can you keep a probate estate open for a few years to take advantage of high CD rates?
If it is to the benefit of the estate, yes. The executor has a responsibility to maximize the estate.
What to do if your dad didn't leave a will?
Open an estate with the probate court. Then follow the intestacy laws for your jurisdiction.
How do you transfer a deed when a parent dies without a will in Texas?
You open an estate with the probate court. The executor of the estate can issue the deed to those who inherit.
Will credit card debts write off the debt after your death?
They will not do so immediately. They will attempt to collect from the estate. Debts are one of the primary reasons someone should open an estate. 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.
