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Debt Responsibility
Questions relating to the responsibilities for debts left by an individual that has died.
1,506 Questions
Estate responsible for sister's medical bills?
Yes, the sister's estate is responsible for paying the debts, including the medical bills of the deceased. If a relative has co-signed any paperwork regarding medical procedures, they may be held liable. If they hope to inherit a house, they may have to pay the bills to avoid the house being sold to pay the debts.
The insurance proceeds would be part of their estate and would pass according to their will or by intestacy to their next-of-kin.
Most likely, nothing, as long as the payments continue on time. If the payments stop, the lender with foreclose on the property and the borrower's estate will be impacted. The payments are still due beyond the death of the borrower - they become the responsibility of the borrower's estate.
An equally important question is who is now the legal owner of the real estate. If the decedent didn't transfer the property to a survivorship tenancy with another, their estate must be probated in order for title to pass to the heirs at law or under the terms of the will. An estate of real property must be probated in order for title to the property to pass to the heirs legally.
While the estate has primary responsibility in Louisiana, in most cases they will be held responsible. They are deemed to have benefited from to goods and services.
Can you refuse to inherit a house which has more debt than it is worth?
You have the ability to turn down an inheritance. It is usually done to avoid tax consequences. In this case, it can help avoid issues and let the estate resolve the imbalance.
Can you take out a mortgage on livivg estate that's in your name?
It is possible. It is not likely to be very favorable terms, but if the bank is willing to do it, they can. Consult with your bank that knows what the rules are for where you live.
What if there isn't enough money in an estate to pay off all debt who is liable?
The estate is liable and has to pay off all 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 doctor bills have to be paid by the estate?
Any debts owed by the decedent must be paid by the estate.
What do you do with utility bills in the name of a deceased spouse or parent?
Such bills should be turned over to the executor of the estate. They should pay legitimate bills and either close the account, or transfer it to the estate or the heir that will be taking over the property.
In Texas is the surviving spouse responsible for department store debt still owed?
Texas is a community property state therefore a surviving spouse usually can be held liable for debts solely incurred by the deceased spouse. Exceptions can be made to this law based upon the circumstances of individual cases
Is a brother responsible for a sisters debts?
Not unless you sign a note or otherwise guarantee her debts by signing a paper to that effect.
In most instances, the estate is responsible. It means the estate that is inherited from the spouse will be smaller.
Can the government collect owed taxes on a pension which is inherited by a beneficiary?
Sure.
The beneficiary will be responsible for any taxes due on pension payments.
The car goes into the estate. The estate may sell the car to cover debt and costs. They may also transfer title to the appropriate party.
Your sister committed suicide and made you executor she has debts are you responsible?
No. You are not personally responsible for your sister's debts. The estate is responsible for the debts of the decedent.
Who is responsible for medical bills when parent dies in nc?
Medical bills are the responsibility of the estate to pay. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Does a wife have to pay her deceased husbands medical bills in the state of TN?
In Tennessee the debts of the deceased, including hospital bills, are the responsibility of the estate. The estate, or its beneficiary should reimburse any valid debtors before giving any of the assets away. If the estate has been closed, there should be no further claims. Consult a probate attorney in your jurisdiction for help.
What is asset privatization trust?
abno ka segi basa nga mali mali man
Asset privatization trust is an office tasked by the government to sell the Non Performing assets and/or 'government-owned and controlled corporations' to the private sector.
Who is responsible for paying taxes of the deceased?
His estate...which is actually him continued after death for business purposes.
I have received a tax levy in my deceased husband
old business account from 2004
Am I responsible
Clearing an unreleased mortgage on property if mortgageholder is deceased?
That is one of the primary reasons to open an estate is to resolve such issues and to clear titles. 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.
Another Perspective
In a title theory state if the mortgage isn't paid the lender can take possession of the property by foreclosure.
Am i responsible for deceased spouse medical bills in NJ?
Medical bills of the deceased are the responsibility of the estate. Anyone that was a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
How does the suriving spouse claim deceased assets since there is no will?
Open an estate through the probate court. They can be appointed the executor. Consulting a probate attorney for your location is a good idea.
