Debt Responsibility

The estate is responsible for all debts, including taxes. The spouse benefited from the income.

Unless any of the relatives cosigned for any loans then the creditors are out of luck and have to cut their losses. If one mate dies (say the husband) leaving a widowed wife, then she is responsible for paying off the debts and vice-versa. Other than that children of the deceased ARE NOT responsible for the out-standing debts of their parents should they both be deceased. Marcy * In the U.S. a surviving spouse is only responsible for repayment of the deceased spouse's debts if the accounts were joint or the couple resided in a community property state. (Texas and Wisconsin assess marital debt differently than do other CP states)

Yes. You should receive a notice that includes the date and time of the hearing.

Answer: Your estate is responsible for all of your debts when you die. The assets don't always cover the debts but any creditor can file a claim against the estate for money you owed them.

This is a question to be answered by looking to the law of the state of probate. Generally (at least in New Jersey) when an executor retains a lawyer to help in the administration of an estate, that lawyer is actually retained by the executor not the estate. The executor is personally liable for the bill; however, the law recognizes that legal help is needed so it allows the executor a reimbursement for a reasonable amount of legal fees. Some states have statutorily fixed amounts. When two executors retain their own lawyers they also are each personally liable for their own lawyers' bills unless the probate court allows the reimbursement. Usually when two executors hire separate lawyers it is because they simply want their own lawyers. A probate court is not going to allow legal fees for duplication of effort by the lawyers. Depending on the amount and type of work done by each lawyer, the probate court will probably allow some but not of the legal fees to be paid from the estate and decide who gets what. If the court does not allow full reimbursement out of the estate, the executors have to pay the rest of their own lawyer's bill themselves.

a priavte care closed completely, my relative passed away four years. They didn't move but completley shut down. how long to they keep a loved one records and were since they are out of business?

It means that under the terms of some contract the party is responsible for paying debts.

If there are specific items given out, the executor must give it to those individuals. A beneficiary doesn't normally have a claim against the estate. All debts have to be resolved before distribution.

No you are not responsible, but if your parent(s) left a Will and you are named Executor (male) Executrix (female) or someone else is and you are heirs in the Will (highly possible) then the Estate of your parent(s) meaning house, property, summer homes, monies, stocks/bonds, savings in banks, etc., will have to go to Probate. Probate makes sure that all taxes on any property are paid and all out-standing debts are paid first. What is left is divided according to the wishes of your parent(s) in the Will. It take approx. 1 year (or less) to Probate a Will. If you are named Executor/Executrix you will be informed, and if you are an heir in the Will you are entitled to a copy of the Will. Don't count on the fact that you were estranged from your parents and you're not in the Will because they can do odd things for their kids. My mother and I were estranged due to her having Dementia, but I was left money in her Will although she told me I would never see a cent. If in doubt, always see a lawyer to be sure you are in the Will as an heir and if not and you feel you are entitled to your share then you can "contest the Will" which can hold up the Will for 3 years or more depending on the amount of monies or properties (including business') left behind. If you have greedy siblings or relatives they really don't want to go down that road of contesting a Will ... they want their money now! They would be more than willing to settle with you. It's worth seeing a lawyer to be sure what you are entitled too. Hope things work out for you. Marcy

The estate is responsible for all the debts of the deceased. The children are not required to pay them from their own funds, but it will reduce the amount they inherit.

A proof of claim is filed by a creditor of the decedent. That claim must be paid before any assets are distributed to the heirs. A Proof of Claim is a form that a creditor submits to the court to get paid.

Unfortunately, if the debts are in both names then the remaining spouse will be responsible for paying them. The remaining spouse may want to consult with an attorney who could negotiate on their behalf with the creditors.

The executor should file an annual accounting with the court. If they have not the heirs should file a motion for the court to compel an accounting. An executor who acts in secret and resists reporting to the heirs should be watched closely.

The executor should file an annual accounting with the court. If they have not the heirs should file a motion for the court to compel an accounting. An executor who acts in secret and resists reporting to the heirs should be watched closely.

The executor should file an annual accounting with the court. If they have not the heirs should file a motion for the court to compel an accounting. An executor who acts in secret and resists reporting to the heirs should be watched closely.

The executor should file an annual accounting with the court. If they have not the heirs should file a motion for the court to compel an accounting. An executor who acts in secret and resists reporting to the heirs should be watched closely.

Return to the court that appointed the executor and petition to have the executor removed and a new one appointed.

Yes, the estate of the deceased is responsible for all debts, including the collection of legal fees as allowed by judgment or law.

In a will, a trust is when one or more individuals hold the legal rights to the deceased's properties or anything of value. The trust is usually split between all those involved in the legal relationship.

If the Will has been executed in Probate court the Will stands but if there is a note proving your dad owed money to your uncle then he can legitmately claim this as a debt upon your dads estate. See probate help link below for more information. Your father's estate is responsible for paying his debts. If the estate was properly probated and there are debts and no assets then the estate is said to be insolvent. You should speak with a legal professional who can review the situation and confirm that the creditor is out of luck.

You need to obtain a court order. You must do so ASAP. Keep in mind that an executor has no legal authority to deal with a decedent's bank accounts until they have been appointed by the court. If the executor has been appointed by the court you must file a motion immediately to have the letters testamentary revoked.

The lender is the beneficiary. The borrower is the trustor and the third party working for the lender is the trustee.

Assuming the person who made the will is still alive, he/she can do another will or do a codicil to that will that changes the executor to someone else. If the person who made the will is dead, he/she cannot change the executor. Obviously.

The executor of an estate has the authority to oversee all of the deceased personal and financial matters, including correspondence. It is illegal for anyone other than the addressee or someone appointed to oversee the addressee's affairs to open said person's mail. The person(s) engaging in such an act should be informed they are violating the regulations of the probate court and the U.S. Postal Service.

Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.

Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.

Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.

Yes. The decedent's estate is responsible for their debts whether or not there is a will. The debts must be paid from the decedent's estate before any property can be distributed to the heirs. The creditors can file a claim against the estate for unpaid bills.

The very last up-dated Will is the one that applies. People can change their minds all the time when it comes to Wills. Sometimes something happens between themselves and their children and they may leave one or more children out of their Will. You have no recourse, but go by the last Will unless you can prove the deceased was not of sound mind when signing the latest Will. I would advise you to seek legal council on this so you are sure of your rights. Good luck Marcy

You can petition the court to have them removed. They are likely to appoint a neutral party to be the executor. It might be the right time to consult a probate attorney.

If the items are not paid for, they will get reposessed by the bank and then the bank will sell them