Debt Responsibility

No, it is not generally necessary.

Whoever inherits the house would need to either pay off the mortgage or refinance the house to take ownership of the house. The debt is not paid--unless the deceased had mortgage insurance--and the lien is still due. Of course, the house could be put up for sale, but only if payments are current and not in foreclosure.

Yes, she must maintain the property at least to the extent it was when the life estate was granted, that includes regular maintenance, repairs, taxes, etc.

Not unless that disposition was provided by the testator in the will. You can visit the court where the will was filed and ask for the case file. You can then check the will and review all the other documents in the file. If you have questions ask to speak with the attorney who is representing the estate.

That is one of the responsibilities of the Executor. They need to propose a solution to the probate court. If the judge accepts it, the creditors will also have to accept it. The simplest way is to take the total dollars in the estate and divide it by the total debts owed. Then pay that much per dollar owed to each debtor.

Credit card companies are general creditors of the estate. They get paid after the funeral expenses, administration expenses, secured debts and other prioritized debts. They must be paid before beneficiaries get any money. That does not mean they have to be paid in full or that interest after date of death has to be paid. They may try to charge that interest but the executor or administrator should just refuse to pay it and tell the company "Sue me". They won't. You can also negotiate the debt down from the actual date of death amount. In fact this should always be tried. Those debts are almost always negotiable. If you tell them they can either have, say 70% now as payment in full, or file the usual formal claim paperwork (they hate that) and wait for the usual six month period before their claims are even considered(they hate that worse) they will compromise. A credit card company facing the possiblillty of preparing formal paperwork, then waiting about 6 months before the executor even thinks about it, only to have the executor dispute the claim and tell the company to sue the estate will usually settle. Also demand a detailed history of the account. Many credit card companies are happy to get a reasonable amount back and be done with it. That's because they can take the amount they did not get as a tax write-off. Also, if the do sue, their lawyers will take part of it anyway. None of this is improper. This is just making the company abide by standard state laws governing claims against an estate but offering them a way to avod all that fuss.

Creditors have a statutory period during which they may make a claim against an estate for an outstanding debt. Creditors who file in a timely manner must be paid before distribution is made to the heirs. If there is no estate the heirs are not liable to pay the debts of the deceased.

A lien can be applied to his estate, and in some states, against the estates of the paternal grandparents to limit the distribution of the obligors share of the estate.

Generally, yes. You need to review the particular trust. The trustee has only the authority that is set forth in the document that created the trust. It is very common for the trustee to be instructed that distribution be limited to education and medical purposes. The trustor creates a trust so she/he can control the distributions. They don't want their money to be wasted.

Generally, yes. You need to review the particular trust. The trustee has only the authority that is set forth in the document that created the trust. It is very common for the trustee to be instructed that distribution be limited to education and medical purposes. The trustor creates a trust so she/he can control the distributions. They don't want their money to be wasted.

Generally, yes. You need to review the particular trust. The trustee has only the authority that is set forth in the document that created the trust. It is very common for the trustee to be instructed that distribution be limited to education and medical purposes. The trustor creates a trust so she/he can control the distributions. They don't want their money to be wasted.

Generally, yes. You need to review the particular trust. The trustee has only the authority that is set forth in the document that created the trust. It is very common for the trustee to be instructed that distribution be limited to education and medical purposes. The trustor creates a trust so she/he can control the distributions. They don't want their money to be wasted.

The estate must be probated in order for legal title to the property to pass to the heirs. The property cannot be insured until there is a legal owner. You have no right to enter into a rental agreement unless you are the legal owner. Any contract you sign would be void and further, it would be fraudulent. The tenant has the right to know who the legal owner of the property is. Property from a probate estate cannot be rented out indefinitely. Property that is in a probate estate is within the sole possession and control of the executor but only until administration of the estate is completed. The executor is obligated to administer the estate promptly then distribute the property to the rightful beneficiaries. Since only the executor may rent out property that is in the estate and since the executor's authority over the property is only temporary, it goes without saying that an executor may not rent estate property out for an indefinite period of time.

Chances are yes, you will have to pay the bills. The primary insurance holder will be held responsible and they both benefit.

if you are visting from USA you might have to pay $2000 and more!!!

If a person obtains a traffic ticket it is important to pay the ticket on time. In Arizona, if a person pays the ticket past its due date, there are late fees.

Technically, the debt has to be resolved by the estate. And as the spouse gets the estate, they will be paying one way or another. And is many cases the spouse benefits from the debt, they can come after the money

You can ask the executor to step down. You can also ask the court to appoint someone else. This would be a good time to consult a probate attorney in Alabama.

It is possible that the Probate judge will see that outstanding debts, especially past taxes, are paid until all funds have been depleted. You may end up with nothing, prepare yourself for bad news. First contact his creditors and try to negotiate with them on the balances, some may even agree to write off his remaining debt.

The lender is not going to allow that. They may allow you to replace one mortage with another. But the mortgage is tied to a specific piece of real estate.

Yes. You must know what grounds can be used as a basis for the contest and what evidence will support your claim. You must make your objection in a timely manner and file the proper forms on time. Then you must explain your objection in a business-like manner at the hearing and submit your evidence.

health insurance means that u pay money daily and if u get injured or die u or someone in ur family gets that money to use at ur funiral or if u get the money u can use it on whatever u want

If the value of the estate is low, probably none. The taxes are based on the value of the estate and most require at least $100,000 before there are any.

No they are not personally responsible for the debt. One of the primary reasons to open an estate is to resolve such debts. 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.

Yes, bank accounts are personal property.

There basically two ways, one informal the other more formal. The easiest way is to write to the executor or administrator giving the particulars about the debt and amount owed and demand payment. The more formal way is to presnt the executor/administrator with a "prof of claim". This is just the same type of demand but is made in writing under oath. Generally, debts should not be paid during the first six months after death so you might have to wait a bit. Some states have laws prohibiting early payment.

They can only sell their rights to the property. Which only last as long as they live. No one would accept a mortgage on a life estate.