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Debt Responsibility
Questions relating to the responsibilities for debts left by an individual that has died.
1,506 Questions
Is the beneficiary of an estate responsible for the deceased debts?
Debts are the responsibility of the estate. No will is necessary to open an estate. Before anything in the estate can be distributed, the debts have to be cleared.
Are adult children responsible for credit card debt after their parents die?
No. The credit card companies will try to get you to pay off your parent's bills but you don't have it. It is all volunteer. I was glad to learn this since my mother is 81.
Is wife responsible for deceased husbands medical bills in Florida?
In Florida the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
Who is responsible for credit card debt after death in Georgia?
In Georgia it will be the responsibility of the estate. No will is necessary to open an estate. Before anything in the estate can be distributed, the debts have to be cleared.
Who is responsible for mortgage debt after death?
The mortgage debt is the responsibility of the estate. The mortgage will have to be satisfied before the estate can be closed. Before anything in the estate can be distributed, the debts have to be cleared.
Are children responsible for deceased fathers debt in California?
Not unless they co-signed for the loans or credit cards. The estate is responsible for the debts.
Is a wife in Kentucky respnsable for deceased husbands medical bills?
In Kentucky the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
What happens after the death of a parent when there are out standing bills?
If the parent's spouse is still living, that person may be solely responsible for paying off the debt. If both parents have passed away, the estate will be responsible for paying off most debts. In this case, any money left in accounts (savings, money market, investments, etc.) will go to paying the debts before money is given to beneficiaries.
This is often a murky area of the law and with the economy in the tank you may have creditors calling you (or the executor of the will) seeking repayment on a debt. The best way forward would be to route these requests for repayment through the lawyer handling the execution of the will.
Who is the executer of the will?
They are the person responsible for executing the will. They open the estate, pay the debts and distribute any remaining assets. They also account to the court and file taxes on the estate.
Is a widow responsible for her deceased husband's debts even though there is no estate?
That is the reason to create an estate. However, in most cases the spouse will have benefited from the debt and be held responsible.
supervision , controlling and Monitoring of bank pledge in industries of Raw material or finished goods and provide report of banks regarding issue or receving etc
In Florida is the surviving spouse responsible for medical bills?
Is your name on the bills? If you did not sign anything to be liable for the bills, then you are not responsible. Only the party that enter into the contract is liable for the debt. This means if your spouse is the only one named on the bills that you do not have to pay. A collection agency may tell you that you are liable even if you are not. Learn your rights under the FDCPA.
Is a spouse responsible for her deceased husband's medical bills in Fl?
My husband just died about 6 months ago and no, i am not responsible for his medical bills....I have spoken with my Lawyer and he informed me in fl i do not have to cover ANY unpaid debt of a spouse
What tax credits can i claim from an estate I was administrator of?
There are not likely to be any tax credits. The estate should reimburse you for your time and expenses.
Is the surviving spouse responsible for deceased medical bills in nc?
In North Carolina the estate is responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
Is it illegal to keep utilities in a deceased parents name until probate?
It is not illegal to do so, but the utility has to be notified of the death. And they have to provide the name and address of the executor of the estate.
Who is responsible for credit card debt after the death of a parent in the state of Wisconsin?
The estate is responsible for credit card debts and all other debts. One of the primary reasons someone should open an estate is to resolve 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.
Is wife responsible for dead husbands medical bills in Oregon?
The spouse is not directly responsible, unless they have co-signed for the services. The estate is responsible for settling all medical bills in Oregon. So before the spouse can inherit anything, the estate has to pay the bills.
Is an executor personally responsible for past bills of the decedent who died on medicaid?
No the executor is not personally responsible for debts. The estate is the responsible party. One of the primary reasons someone should open an estate is to resolve 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.
Are mineral rights considered part of an estate that have to be liquidated or executed to pay debt?
Mineral rights are a part of the estate. All assets have to be valued and distributed or liquidated. Any proceeds from the sale of assets must be used to pay off any debts.
Can children from first marriage claim estate?
They can certainly claim a portion of the estate. They are entitled to it as much as any other descendants. And in most cases if there is no will, there is a portion of the estate that they get.
Who is responsible for debt after death in Tennessee?
The estate has the responsibility. One of the primary reasons someone should open an estate is to resolve 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.
