Debt Responsibility

If you inherit a car that is subject to an outstanding car loan you need to keep up the payments with the LENDER according to the terms of the original loan. If you default on the loan payments the loan company can repossess the car.

There must be a reason why you want to purchase a car under another person's name. You must have a bad credit history, must be a poor credit risk or there must be some other reason. What you are suggesting is fraudulent. A person who needs an attorney-in-fact to help with managing their affairs has not been fully informed if they have agreed to take full responsibility for a car loan for a poor credit risk. You would be abusing your authority if you carry out that scheme. If you check the statutory powers granted under a POA in your state you will not find that an attorney-in-fact can borrow money for their own personal use under the name of the principal. You should be replaced.

The estate has to be settled. That means all of the debts paid off and taxes filed. Then the court has to approve the distribution plan. That can take as little as 3 months and as long as many years.

It varies greatly based on the size of the estate and the number of assets. A small estate can be resolved in less than 6 months. There are very large estates that are still in probate after several decades.

It is possible to obtain a partial payout. It will depend on the estates assets and the identified debts.

Yes, it's called Medicaid. Look it up.

The wife is responsible as she was the one who signed the credit contract.

Yes this might be possible.

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.

Yes you can inherit a pension but the amount will NOT be free of income tax. The taxable amount of the distribution will be taxed to you in the same way that they would have been taxed to the deceased. The taxable amount of the distribution will be added to all of your other gross worldwide income and be subject to income tax at your marginal tax rate.

Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.

You must petition the probate court to be appointed the administrator of his estate if he had no will. If no one objects, the court will provide you with the authority to pay his debts and distribute his assets according to the state laws of intestacy under the court's supervision.

You should consult with an attorney who specializes in probate if there are assets. The administrator is personally liable if they make errors while settling the estate. Most people need the assistance of an attorney when administering an estate. The attorney could review your situation, determine what your options are and provide assistance.

Well everyone is in debt one way or another so your question could be answered in two ways in terms of money or in terms of a physical achievement and a recognition to another for a help or service

It depends which country you live in, you would be best advised to go and ask a local lawyer (attorney) for advice.

In many cases the husband will be held responsible. They are deemed to have benefited from to goods and services.

The estate is responsible. If there isn't one, an estate should be opened.

Debtors can go after the assets of the estate. These assets will have to be liquidated to settle the debts.

In Georgia in most cases they will be held responsible. They are deemed to have benefited from to goods and services.

it depends on the will but the norm is about 10% of the total estate

If I'm understanding your question correctly, then it is the governor, which is currently Pat Quinn.

The executor will have to fill out the Federal tax forms. They will determine what the taxes are. In order to do so, the estate will have to be valued.

The decedent's estate is responsible for the decedent's debts. If there are no assets the creditors are out of luck.

Grandmother's estate has to pay off her debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.

I have a trust ,but the trustee will not allow me to veiw my acctount.

While the estate has primary responsibility, in most cases they will be held responsible. They are deemed to have benefited from to goods and services.