Debt Responsibility

if the house is sold can that money be divided before the total estate is closed

No.

my daughter die how do I go about finding out about her mortage

6 months after the issuance of the letters of testamentary/administration.

The executor of the estate informs the lien holder. The vehicle is then either paid off by the estate, or the vehicle is sold. In some cases, they executor may turn the vehicle over to the bank or loan holder.

That will depend on how the IRA was set up. It might not be required if your are the listed beneficiary of the IRA.

In most cases 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 there is not enough to cover the bills, they should present a plan to the court as to how they will distribute what is available. Consult a probate attorney in your jurisdiction for help.

The exact procedures will vary from state to state, but the decedent's bills and other financial affairs are usually handled by the person appoint as executor or trustee under the will or trust. Consult a local probate/estate planning attorney for more specific advice.

Generally, if two executors are named in the will and then appointed by the court as co-executors they must act together unless the will provides that either can act alone.

The Power of Attorney is not personally responsible. If they have mis-managed the funds, they could be held liable to the grantor of the responsibility.

That may require a payment of taxes. The form of the life estate will also affect the tax situation.

If a funeral is not able to be paid for, the spouse or child of the deceased may be able to receive a one-time death benefit payment from Social Security if the deceased was on that. The deceased may also be buried by the state or cremated.

The estate of the deceased is responsible for paying all the deceased's lawful debts.

The person's estate is responsible for payment of back taxes. If there are any assets, the debts must be paid before any assets can be distributed to the heirs. If there are no assets the creditors should be notified of the death and they are out of luck.

A claim that gets paid only after higher priority claims are paid in full. Higher priority claims can include expenses of last sickness, funeral expenses, expenses of administering the decedent's estate, and sometimes child support.

Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.

Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.

Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.

Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.

Indirectly they will pay in Georgia. The estate will be primary and the spouse is considered to have benefited from the purchased items.

Generally, they are not. If any of the money includes interest, dividends, or capital gains earned after death, that income may be taxable to the beneficiaries when distributed. If you inherit a retirement account, such as an IRA, distributions therefrom will be at least partially taxable unless transferred into an IRA for the beneficiary. The rules are complex, and will not be addressed here.

The first question is, "Do you know how to probate an estate"?

If the staff at your probate court is extremely helpful, you follow their technical directions to the letter and you have some legal experience you may be able to handle a simple estate on your own.

However, keep in mind that the staff is prohibited from providing any legal advice.

Arkansas, like most states, look at a number of factors involved. 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. If they hope to inherit a house, they may have to pay the bills to avoid the house being sold to pay the debts.

Approach the telephone service provider and ask whether they have a call barring system. It costs a small fee, but you can choose who may and may not call you.

Install a telephone answering machine where you could answer only the required calls and erase the rest.

You can get electronic instruments ("caller ID") that when attached to the phone, show the incoming call number. You can then decide whether to answer or not.

It can be disputed if it doesn't meet the requirements in your state. You need to check with an attorney who specializes in probate to make certain the will is properly drafted to accomplish what you desire.

Yes the canceled debt should be included. It is the same as income. Taxes have to be paid on all income.

Yes. The functions performed by an Administrator can be extremely time consuming. It involves a lot of work. The amount they should be paid is set forth in the various state probate codes.

When the Will is allowed and the Executor is appointed by the court "Letters Testamentary" are issued to the Executor. Those Letters set forth the legal authority of the Executor and a copy should be presented at the bank to make the withdrawal and close the account.