Debt Responsibility

The estate is responsible for the medical bills. And since the wife is likely to inherit the estate, it sort of seems like the same thing, but there is a subtle difference. You should consult a good probate attorney.

Yes, the executor has to pay the debt. 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.

This can be a complicated issue and you should consult with an attorney who can review the details of the medical expenses, the assets owned by the parties and explain the options and responsibilities.

Depends, If the account is under your wife's name only you can just send a copy of the D.C. to the probate office for the company. However, If you were listed as a "joint" or "Co" on the account you are now responsible to pay off that debt or it will be taken from the estate.

The estate has to resolve all debts. If there are co-signers to the car loan, they may be held accountable. If there are not enough assets to pay off the loan, the car will have to be sold.

This is tough because the laws vary by state so you really have to your own research. I will say; however, that if your husband used that card for "family use", i.e.: food, bills, etc. then you can be held liable. Also, if you ever signed a credit card receipt then you can be found liable because you are then deemed to have implied authorization.

You still owed the money. The executor can ask you to pay back the loan. They can also credit it to any inheritence you may receive.

It is not 'passed on.' However, the debt does take the value out of the estate. That means the children will inherit less.

If you can locate the the policy, it would ordinarily designate the beneficiary on the application. If you are not designated on the application, you can nonetheless file a claim with the insured, following all instructions for so doing (such as providing a copy of the death certificate).

Insurers are also required by law to pay over proceeds to the unclaimed property authorities of the state in which the insured was last known to reside if the proceeds are unclaimed for a statutory period of time. You should therefore contact those authorities to determine if proceeds have been deposited.

The estate has to pay off the debts. If the estate does not have the assets to do so, they distribute as best they can. If the court approves the distribution plan, the debts are ended.

Homeowners insurance does not cover your mortgage if you become disabled. You would need to obtain mortgage protection insurance for that.

I'm not an attorney, and you certainly need the help of an attorney. But joint tenants have equal and undivided rights in the property they own. It doesn't seem unreasonable that creditors will want something from the mother's property.

Probably. 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.

Through the local Probate Court

No way! Why would your parents have to pay your bills? There is no law that says they have to take over your bills in case of death. No such law exists. Why would you think so? No way! Why would you think so? There is no law that says your parents have to pay the debts of their kids in the event of death. No such law exists.

That depends on the laws of the state of probate. Some states allow attorneys fees as a reasonable fee for defending against the removal action. In a way, the fees were spent protecting the wishes of the decedent that you be the executrix. You might not be able to charge all of the fees to the estate, only a reasonable amount. So be sure not to overpay or the court might have you pay for any extravagant amounts.

I'm confused... Your the benficiary of what? Life Insurance or a Will? The deceased left debts...and taxes? If you are the beneficiary of a life insurance policy...the proceeds go to you..in full (after paying back any loans taken against the policy), no matter what. Independent of the "estate" of the deceased. If your a beneficiary as in a Will of the decedent...then his bills of whatever type get paid before whatever your supposed to get is available. (If he owes other people they must get paid. It kind of makes sense that he can't leave you money he doesn't really have).

Answer2:

No. Any debts are paid out of the estate left by the deceased. If the estate is not large enough to cover the debts it ends there. The beneficiary gets nothing but does not assume the debts.

The general answer is that the individual or group of individuals that step forward to make a claim on the estate will be accountable for the debt. The lack of a will makes assignments of the assets (and the debt) more difficult, but not impossible. The court has been down this road before. And the court is obliged to protect the individual(s) who have a claim on the estate because the deceased fairly owed them a debt. A simple and straightforward example would be a house in the name of the deceased that had not been paid off. A car that had been purchased with a loan and had not been paid off would be another one. If a person passes on, the debts don't just disappear if assets are left behind. That's a no brainer. The individual(s) who claim and are ended up being awarded the assets of one who is now gone get the debts, too. The laws governing the redistribution of the assets of one deceased vary from one jurisdiction to another, but are fundamentally the same. Do not construe any of this as legal advice. Two final things. First, a will is a simple and inexpensive extension of one's wishes into a time beyond his own life. Anyone who has any appreciable assets should make one out. Lastly, do not sell a specialist's abilities short. Consult a legal professional in any matters of consequence. There are many legal professionals, and they frequently provide counsel free or at little cost, at least upon an initial visit. If I cut my finger, I wash it and apply a band aid. If I break my leg, I go to the doctor (or emergency room physician) for assistance. If none of the family members, friends or acquaintances come forward on the death of the deceased, and files for administration to the estate of the deceased, this side of matter ends. The person who the debt is owed to can file for letters of administration before a court of law. He can realize the assets of the deceased and take what the debt owed to him is. The remaining assets remain with the custody of the court till any legal heir or other claimant claims, through the court. The unclaimed residue of estate will go to the state, means the government coffers. ===Clarification/Simplification=== When a person dies, all assets owned by them in their individual name become part of their estate. The estate is responsible for any debts owed by the decedent. This is true whether the decedent died with or without a will. This is also true whether or not a probate proceeding is filed. In order for title to real property to pass to the heirs the estate must be probated. Bank accounts or investment accounts cannot be accessed except by a court appointed estate representative. As part of the probate process notice of the death is published providing creditors with the opportunity to come forward and file a claim. If all outstanding debts are not paid and the assets are distributed to heirs they will be received subject to the debts of the decedent and the creditors can pursue the recipient.

Yes, that is the law. If you blow the money, the creditors will come after you and make your life miserable. Why would you think you would not have to pay his debts with his money?

Unless he had insurance to cover bills in the case of his death, the creditors will be looking to the heirs of his estate to pay them. The issue will more than likely be presented by his creditors in the Probate court.

I'm sure they would be more than willing not to pay you but really why would you want to refuse it. If you have to receive it you could just bank it or donate it to a worthy cause.

This previous answer is incorrect. A sole proprietorship is an individually owned entity, it is legally the name or service of that said person. Therefore the company dies when the owner dies, you cannot not operate "Mary Smith Accounting CPA", if you are not Mary Smith. In order for the company to be passed on or rights transferred it would have to be a partnership, LLC, Joint venture, or a corporation. You as his wife would not be responsible, he has unlimited liability, no one could try to collect the debts of his company from you, but from his estate. -"yeah if its in his will that it goes to her then it will but if not the government will break the company up and sell it piece by piece

Subject to laws of your country - it will depend on how the business was structured. The debt may remain with the business and not the personal estate. In a non incorporated personal business it is generally with the estate any residual which may pass to the wife but not a debt of the wife. Always seek legal advice."

You have to apply for a mortgage jointly for both people to be listed on a mortgage. You can however have your name added to a title of a house with simple paperwork.

The family of the deceased should make the funeral arrangements in accordance with any directives left by the parent. Costs for the funeral and other services are then paid out of the estate funds.

No, the children are not responsible. 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.