Debt Responsibility

Depends on what type of living trust it is. The assets in aÊrevocable living trustÊareÊnotÊprotected from lawsuits, but the ones in an irrevocable living trust are. The only drawback with an irrevocable living trust is that the creator or owner will not be able to add or remove any assets in the trust during the entire validity period.

Yes, you can commit perjury to the clerk. Putting a falsehood on a form or a statement is considered a crime in most places. It can result in jail or fines.

It should but I think you'll find in Florida Courts, even though Statute 731.01 and Uttering a False Document 731.02 states it's a FELONY....The Judges here don't do anything to enforce it.

A voluntary judgment occurs when the debtor agrees to the charges against them from their creditor. A court will act as a mediator to finalize a payment arrangement that the debtor offers to the creditor.

No it would not be safe from legal judgments. It becomes an asset of the individual and it is subject to having a lien put on it. If possible, the assets could be put in a trust to protect them.

An obligation to pay a debt is usually by contract. A contract by a minor is "voidable" meaning that it can be invalidated. However, it is not void. The difference is sometimes important because if a contract is void then someone could never be held accountable. A contract by a minor however, may later be ratified (acknowledged as valid) by that invididual. Ratifying the contract then makes the person legally responsible. If the person who signed the contract as minor does not want to be held legally responsible, he or she must formally rebuke that contract.

In Florida, the executor or personal representative of the deceased's estate is responsible for notifying credit card companies of the cardholder's death. The estate is generally responsible for paying off any outstanding credit card debt using the deceased person's assets. Family members are not typically personally liable for the deceased person's credit card debt.

The responsibility for church debt typically lies with the church leadership, such as the board of trustees or elders. They are accountable for managing the finances and making decisions related to borrowing money or accumulating debt on behalf of the church. Members of the congregation may also play a role in addressing or supporting the repayment of church debt through donations or fundraisers.

They are not directly required to pay any debts. If you are the executor of the estate, yes, if 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.

In New Jersey the debts of the deceased are the responsibility of the estate. However, if one of the children was also a co-signer on any of the agreements they might also be responsible. Consult a probate attorney in your jurisdiction for help.

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 that knows the Pennsylvania probate laws for help.

Unless they can show you took money out of the accounts, you should not be liable. Typically the estate is responsible for paying the debts, including the medical bills of the deceased. If a child has co-signed any paperwork regarding medical procedures, they may be held liable.

The homeowner can transfer ownership of the house to their children through a deed transfer, such as a quitclaim deed or a warranty deed. It's important to consult with a real estate attorney to ensure all legal requirements are met and to understand any potential tax implications of the transfer. Additionally, consider the implications on Medicaid eligibility if the transfer is made within a certain timeframe before moving to a retirement home.

In general, spouses are not legally responsible for actions that result in their partner being imprisoned. However, spouses may have certain obligations like providing emotional support or handling shared financial matters. Each situation is unique, and legal responsibilities can vary based on individual circumstances and legal agreements.

Yes, a perpetrator may be held responsible for the medical bills of their victim as part of restitution for their actions. This may be determined through civil or criminal proceedings, depending on the circumstances of the case. It is advisable to consult with a legal professional for guidance on how to proceed.

In South Carolina, if there are no assets in the deceased person's estate other than a 401K and the person was a legal resident of Florida at the time of death, it may not be necessary to place an ad in the newspaper to notify creditors. However, it is advisable to consult with an attorney familiar with the laws of both South Carolina and Florida to ensure all necessary steps are taken to handle the estate appropriately.

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.

I live in Texas. My husband had a credit card in his name only. When he passed away, I was told I did not have to pay his card off. However, for me, I did anyway. First of all, I benefited from the things that were charged on it. Secondly, Jesus told us to pay Caesar what Caesar is due. To me, that means to pay our debts. I just felt it was the right thing to do to pay that card off. They were surprised when I called to do that. It also lets me sleep better at night and it pleases the Lord.

Pennsylvania was named in honor of William Penn, the founder of the Pennsylvania Colony. The name "Pennsylvania" combines Penn's surname with the Latin word "sylva," meaning "woods" or "forest." The name was chosen by King Charles II of England to recognize the land grant he gave to William Penn in 1681.

Whether or not you have a claim in your aunt's estate depends on the laws of intestacy in the jurisdiction where she resided. In some jurisdictions, nieces and nephews may have a claim if there are no surviving parents, siblings, or closer relatives. Consult an attorney who specializes in estate law to determine your rights under the specific laws in your jurisdiction.

A will should typically be executed while the testator (the person making the will) is still living and of sound mind. It is important to execute a will before any unforeseen circumstances arise, such as illness or accidents, that could affect the testator's mental capacity. It is best to consult with an attorney to ensure the legal requirements for executing a will are met.

I don't think they had debt. Credit cards weren't invented yet.

You apply to the probate court. They will have a package of documents that have to be filled out and submitted to the court. Consult a probate attorney for specifics.

If the card is in his name, only, there may be an out. You will need to get legal help.