Debt Responsibility

Probably not, as in most cases the debts of the deceased are the responsibility of the estate. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.

The estate is responsible for paying the debts of the decedent. No distribution can be made until the debts are paid. If there is not enough to pay the debts the court will declare the estate to be insolvent and the creditors are out of luck.

No, the responsibility belongs to the estate. If the estate does not have enough assets, the debts have to be written off.

A judgment lien is good for around 20 years in most jurisdictions. It must be rerecorded every six years in Massachusetts.

Generally, a bank will release the funds of the decedent when a duly appointed Administrator with Letters of Administration visits the bank to close the account. Letters of Administration are now called a Certificate of Appointment of Estate Trustee

His estate has primary responsibility. The spouse will likely be held as responsible as well.

As long as the child is not a cosigner on the debt, the child is not responsible for parent's debt. The parent's estate would be responsible for the debt. Technically this could reduce the inheritance the child receives, but it is not the responsibility of the child.

In most cases the debts of the deceased, including credit cards, are the responsibility of the estate. The estate, or its beneficiary should reimburse any valid debtors before giving any of the assets away. Consult a probate attorney in your jurisdiction for help.

That is one of the responsibilities of the Executor. The IRS and state provide the guidelines and forms to be filled out. It is pretty straight forward, and in many cases there are no estate taxes.

The estate can require that the beneficiary pay the money back. Or they may offset the amount against what they get. If there is anything left over, there shouldn't be a reason to make them pay it back.

I take it that the two of you filed separate returns and kept your funds separate. You are probably not responsible for your deceased spouse's federal income tax. However, your deceased spouse's estate is responsible for his or her federal income tax. That is if there is enough money in the estate to pay the taxes. Otherwise, you may need a good tax lawyer.

What will happen as far as the widow is concerned after the husband dies, depends on local law. Since this goes all over the world, I can not answer for your location. In this state, the answer is no, unless she signed a contract when he was admitted to the hospital. That would be a legal document and might have an important bearing. Otherwise, if he left behind an estate, a car, a house, life insurance, or a pension, what would happen is up to the probate judge.

As in every case, the estate has to pay off the credit card debts as well as any other obligations. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.

Yes, and regardless of your State, marital status, or any homestead exceptions. However, most credtiors can only put a judgment against the title of real property which are junior to a lien position. Exception would be any loans collateralize by the property and any trade service preformed on the property. However, at the end of the both liens and judgments get paid at closing on the sale or transfer of the property.

The principal is responsible for their own debts. A Power of Attorney doesn't create any obligations in the attorney-in-fact to take personal responsibility for the debts of the principal unless the AIF mishandled funds.

If the two of you are married, I believe you are responsible.

The estate has to pay off the debts including credit cards. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.

If the estate was duly probated and is now closed then the creditor is out of luck. When an estate is probated a notice is published and the creditors have a certain time period during which to file a claim with the probate court. That time period varies from state to state. If that time period has passed the creditor cannot collect.

Any and all assets of a deceased can be used for the repayment of his debts. However, if the pension is making a lump sum payment to a "beneficiary" like a spouse, then it would not be considered an asset of the deceased and you could fight any claims a creditor might make, but if it just pays out to the deceases estate then its fair game for payment of any debt therein.

Generally no, however any shared assets, such as a bank account or home, would be subject to levy and/or garnishment for his unpaid debts. Also, some debts where you had a shared benefit could attempt to attach liability on you, especially if they showed in court any attempt to shelter or harbor assets in your name to avoid attachment to your husbands debts. However, the best way to avoid problems is to have your husband at least workout a repayment plan.

The estate must be probated and the creditors will be given notice. The decedent's debts must be paid by the estate before any property can be distributed to the beneficiaries.

Yes and no. The estate of the deceased is responsible for payment of any debts of the departed, so if you had been willed any form of an asset then it could be liquidated or levied for the repayment of a debt owned to the estate. The only time children or a surviving spouse are liable is if they put themselves up as a guarantor, including co-signing on a car, apartment, credit card, and/or medical care.

Private money owed no, since the courts do not recognize common loans. However, if there was a contract or loan agreement you could make a claim upon the estate for payment. Just like many other financial wind ups there is an order of priority - (1) State and Federal Taxes; (2) Courts, Probate and Receiver Fees; (3) Secure Creditors, like mortgage holders; (4) Liens and Judgments; (5) Unsecure Creditors; and (6) Heirs. Lastly, if there is not enough to pay all the Unsecure Creditors you may be focused to accept a discounted amount representing your percentage of debt compared with other debtors. Then again, anything is better then nothing.

The executor should pay the bill. If there isn't enough to pay it, the state may not get their money.