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If an estate is in debt bad loans on the estate are the adult children responsible for it in the state of Florida?
The law states that you have to notify lenders of the death of the debtor in question within a certain amount of time following the debtor's death. I don't know what amount of time that is. But the practical reality is that, even after you provide the necessary notifications, lenders frequently won't follow through on the procedure required under Fla. law to pursue the debts of the decedent's estate in the time allotted to them, which I believe is 30 days. It's simply a matter of logistics. Lenders are frequently large corporations and the appropriate department at the lenders just don't get the notices of death in time or they fail to act in a timely manner. And if the lenders don't follow through in the requisite amount of time, they forefit their rights to collect from the estate. You'll want to talk to a lawyer in Florida. Call lawyer's referral service and ask for a wills and estate lawyer. I'm not from Fla, but my grandmother recently died there and I found a great lawyer through the referral service. Even before I met with him and retained him to pay for his services for my grandmother's estate, he answered most of my questions for free over the phone. So, make some calls.
What else can I help you with?
Are adult children responsible for paying deceased parents medical bills in Florida?
The estate is responsible for the medical debts. The exception would be if the children were the insurance holder or co-signed the medical agreement.
Are adult children responsible for paying deceased parents real estate taxes?
No, the estate is responsible for the medical bills of the deceased. Only after they are resolved can the estate be closed any remainder distributed.
Are estranged adult children responsible for a parents burial?
No, the estate is responsible for all debts, including those of the burial. However, if the children sign the contracts for the funeral arrangements, they may be responsible.
Are adult children responsible for credit card debt of a deceased parent who had no estate and who lived in the state of Pennsylvania?
No.
Are parents responsible for medical bills for adult children living at home in Florida?
Probably not. They might be in some circumstances, such as if the adult children were developmentally disabled, but where the adult children live is not really a factor.
What are adult children responsible for paying from a deceased parent with no Will or estate but multiple medical bills?
Probably not. The estate may be used to pay bills but the children should have no personal liabilities.
Are adult children responsible for deceased parents debt in Minnesota?
Not unless they co-signed for the debt. The estate is responsible for any remaining debts. If there is not enough in the estate to cover them, someone will not get paid.
Are adult children responsible for deceased parents nursing home debts when they are broke?
Generally, a parent's estate is responsible, the children are not--even when the children are not broke--, unless the children have committed themselves to pay for the obligation in some other way.
Are adult children responsible for credit card and medical bills with an estate?
They are not responsible to do it with their own money. If you are the executor of the estate, yes, insomuch as there are assets to pay them with. If the debts exceed the assets, there are some people who will not get paid, including the beneficiaries.
Is an adult child responsible for a parent's debt when there was no will and no estate?
There is an estate! If you haven't opened one, you should. The estate is responsible for the debts. Consult an attorney for the area that you live in for specifics.
Are adult children responsible for paying deceasded parents medical bills in Michigan?
The children are not directly responsible. If you are the executor of the estate, yes, insomuch as there are assets to pay them with. If the debts exceed the assets, there are some people who will not get paid, including the beneficiaries.
Are adult children responsible for dead mothers credit card debt?
No, it would generally be the estate that would have to settle the debts of the recently deceased. However, if the adult children are the heirs, then it would be in their best interests to help the executor repel or challenge any claims made on the estate, leaving more for them to divide.
