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Debt Responsibility
Questions relating to the responsibilities for debts left by an individual that has died.
1,506 Questions
An adult is responsible for his own agreements, unless another person co-signed or signed as guarantor.
Can you sue a dead person's spouse for crime?
No, you cannot sue their spouse. You may be able to sue the estate, particularly if the estate was enriched by the crime. Cases of embezzlement come to mind as a possibility.
The answer depends on the details: when was the mortgage granted- when was the survivorship created. If the mortgagor was the sole owner of the property when they granted that mortgage, and later created a survivorship with another, then ownership passed to the survivor subject to the mortgage. If the survivor doesn't pay the mortgage then the lender will take possession of the mortgage by foreclosure.
Survivorship property does not become part of the decedent's estate and the mortgage passes with the property to the survivor.
If there is no will what happens?
Dying without a will is called "intestacy." The intestacy laws of your state will apply. These laws vary from state to state, but they generally decide who gets what, based on the heirs' relation to the testator (the deceased).
If there is no signed Will (do a search on it) then there is no probate unless this person owns property or has accounts. A search will be done anyway. If there is no note with a date, signature by the deceased as to his wishes re personal effects, truck and motorcycle then this will not stand up in a court of law. It's "verbal heresay." Life insurance can be used to pay off any outstanding debts of the deceased (but seldom is .. check with the Insurance Company.) If the truck and motorcycle were promised to someone such as yourself, then (I shouldn't say this) take it as long as there are no siblings or other relatives that may want it. The elderly will often give away jewelry, etc., to their children long before they pass away and that is legal and a wise thing to do. Verbal heresay holds no bearing and this can often cause big fights in families. Sometimes the elderly get confused and will promise a car, property or expensive jewelry to one of the children or even a friend, then later forget and promise it to someone else. There isn't much you can do about this. In the majority of states when a person dies intestate (w/o a valid written document), ALL property not specified as exempt under state probate laws must be entered into probate proceedings. Before disposing of any assets or real property you need to consult the state statutes or a better option would be to speak with a qualified attorney. This is especially important if the deceased had outstanding debts, by law creditors have the right to file a claim against any and all property left by a deceased that is not protected in accordance with state statutes. If family members take or sell any nonexempt property without the approval of the court they may be held responsible for repayment of any debts owed by the deceased. Property that was given before his death obviously is not affected by probate or other state laws. Additional information: There would be serious consequences regarding the real estate: it could never be sold because the title did not pass legally to the heirs. That is accomplished through the administration of the estate duly allowed by the appropriate court.
What is a Legal letter to pay back money owed called?
A legal letter to pay back money owed is called a collection letter. It is better to have a collection letter come from a corporation that collects debts or an attorney. However, you can also write one yourself.
The debt is owed to the estate. The executor has a duty to collect it. The money can be credited toward her share of the estate if there is enough to cover it.
They would have to convince the court that it is reasonable. If the executor is from a long way away, small amounts might be okay. The dispensation of the estate has to be cleared by the court. Typically the court will place the executor ahead of other debtors.
If a will is in probate can assets of estate be divided?
There is a statutory scheme for settling and distributing an estate. First an executor or administrator must be appointed by the court. Then the estate representative must settle the estate according to the terms of the will and the state laws of intestacy under the supervision of the court. The debts of the estate must be paid before the assets can be distributed. If property is distributed before debts are paid the estate representative can be held personally liable. They should consult with an attorney who can guide them through the probate process.
Small personal items could probably be distributed once the estate representative has been appointed by the court. Cash, investments and real property must wait until the statutory period for creditor claims has passed and any costs of administration, legal fees, funeral costs and taxes have been paid.
Business is assigned to the Chancery division by the Supreme court and the County court has jurisdiction where the estate does not exceed thirty thousand pounds "Contentious probate" is a legal term used in the UK when there is a dispute involving an inheritance. There are law firms that specialize in "contentious probate" cases both through mediation and through litigation. For an example of contentious probate see the link provided below.
Money you owe to the Philadelphia Parking Authority?
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Yes, as long as the court concurs. If there are enough assets to cover the debts without selling the property, they can create a trust. This is often done for minors.
If you have a client who dies how do you find out who to send the bill to?
Address the bill to the executor of the deceased's estate at the deceased's home address. Sooner or later, the bill will be passed to the executor and will then be sorted out.
e.g.
The Executor of the Estate of Mr Joe Bloggs
123 example street
AC23 4QZ
---------
This may take some time, because they need a probate certificate before they can actually start dividing up the estate. But don't worry, even if the last will and testiment leave funds to a specific individual, as a creditor, you have a higher claim to the funds than those named under the will.
What are creditors rights after death of debtor and probate assets are insufficient?
The estate is responsible for payment of debts. If the estate is insufficient it is deemed to be insolvent and the creditor is out of luck.
Is a waitress responsible for a customer's bill if they leave without paying?
Most of the time, yes. At our restaurant we contribute a portion of our tips every shift to cover incidences of "dine and dash". That's why the 15%-20% tip is so important to us.
What are the qualifications for an executor of a will?
An executor of a will is responsible in distributing the property according to the twill. Qualifications for an executor include being over the age of 18, not have committed fraud or wrongfully neglected the estate, not be a business partner if another person with an interest in the business objects, not be subject to a conservatorship and to be a US resident.
How do you find out what to do when your father dies intestate?
The easiest thing is to contact a probate lawyer. They know the process and the requirements. You can also go to the courthouse and ask for a probate packet. It should contain all of the necessary forms for opening an estate.
Who's responsible for claims made against the estate?
The executor or administrator, but only to the extent of assets in the estate.
It may depend on your local state laws, but generally, no. Once you cosign, you are liable for payments if the other stops paying, no matter the reason.
Simply tell the court you don't wish to serve. They will appoint someone else as the executor. If there are no family members willing to serve, the court will appoint an attorney or bank to do the work.
What is an 'ex parte' hearing?
One type of ex parte hearing is presided over by a judge at which all the parties are not present. The most common reason being a request for an emergency injunction of some sort. The most common of those requests are domestic matters such as requests for a temporary restraining orders or temporary custody. In the United States any orders issued at an ex parte hearing are temporary in nature so as not to deprive any party of due process. A full hearing on the matter will be scheduled where both parties are present. In this type of case no appeal is necessary since the order is temporary.
Another type of ex-parte proceeding is a proceeding in the case where only one party participates or appears in Court although the other party was given notice. In order for this type of an ex-parte hearing to be valid, it must be shown that the non-participant has been provided with proper notice of the proceedings. In spite of proper notice, if the non-participant chooses not to appear and contest the action, then it will result in an ex-parte decree against them.
A common claim in an appeal from an ex parte ruling is that the party didn't receive proper notice. In most jurisdictions that party can file an affidavit asking that the court vacate the order and grant a new trial. The time period for filing is brief and the affidavit must provide compelling evidence for the court to approve the request.
Does a trust protect all assets?
When properly drafted by a trust expert a trust protects any property transferred to the trust.
When properly drafted by a trust expert a trust protects any property transferred to the trust.
When properly drafted by a trust expert a trust protects any property transferred to the trust.
When properly drafted by a trust expert a trust protects any property transferred to the trust.
What is the average cost to have an attorney do a simple will in Houston Tx.?
The average cost for a simple will is around fifty dollars. The most an attorney would charge would be around one hundred dollars.
In Ohio is the spouse responsible for the other spouse credit card debt?
credit card debt is reserved to all the names that were used when the credit card was applied for so even in divorce situations where the judge has split the debt it is not legally removed from you if your name was on the account
