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What else can I help you with?
Can you as co-executor be sued for the debt of your parent's foreclosed mortgage?
The estate is responsible for the debts of the decedent. The executor is not personally liable. If it is necessary to bring suit the executor's name will be recited as the respondent as the executor of the estate and not as an individual.
What is the name of the person in charge of the will?
The person in charge of the will is typically referred to as the executor or executrix. They are responsible for carrying out the wishes outlined in the will, including distributing assets to beneficiaries and settling debts and taxes.
My mother is deceased I am the executor of her estate there was a mortgage on a mobile home and my name is not on the loan so if the mortgage company forecloses am I liable for the loan amount?
If the mobile home and mortgage are in your mother's name alone then you are not personally responsible for paying the loan. However, your mother's estate is responsible for her debts. If the loan isn't paid the bank will foreclose on the property and is entitled to any other assets if there is a deficiency.
How does the attorney or executor split the money of the deceased that did not leave a beneficiary name?
They will do it according to the law. Each state or jurisdiction has a law that specifies how it is distributed.
Who is responsible for the medical bills if the decedent left a will?
If there is a will the will should name an executor and the estate must be probated. While the "estate" is liable for the bills, it is the executor who is authorized to settle them out and pay them once they have been appointed by the probate court. The debts must be paid before any property can be distributed to the heirs.
Will my mother's estate be responsible for a debt my brother made in our mom's name and didn't pay?
The executor should approach the brother to collect from him on the amounts owed. 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 an executor of estate do when a will wasn't made and there is a lot of unknown debt Is it mandatory to post who the executor is in the newspaper so these debts can be paid?
That is one of the primary purposes of creating an estate. The executor has to contact all known debtors and advertise for unknown debtors. There has to be a method for these debtors to contact the executor to place their claims.
If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
Is a wife responsible for the debt of her husband while being married if her name is not on any of these debts in Virginia?
No, Virginia is not a community property state. Therefore spouses are solely responsible for their own debts as long as those debts are not incurred jointly.
If a mobile home in the name of only one spouse and they die is the other spouse resposible for the the debit?
The estate of the deceased is responsible for the debts. The spouse is going to have to pay the debt as a beneficiary of the home purchased by the spouse.
Is a spouse responsible for the credit card debts in the other spouse's name in New Jersey?
If the two of you are married, I believe you are responsible.
Your brother passed away his home goes to mom she will renunciate to siblings do you have to wait to renunciate to sell the house?
The executor of the estate can sell the house at any time. The renunciation really deals with who gets the money from the sale. The executor can also transfer the house to someones name, but they have to insure all the debts are paid. Consult an attorney in your area for details.
