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However, according to the FTC, relatives may be responsible for repaying the debt of someone who has died if: They co-signed a loan with the deceased which has outstanding debt. They hold a joint ...
Being the executor or administrator of the deceased’s estate, but only in states that require executors or administrators to pay off debt from property jointly owned by the surviving and ...
In some cases, surviving family members might be responsible for paying certain debts of the deceased. This largely depends on the type of debt and where you live. For example, shared debts might ...
Being a co-signer on a loan for the deceased, where there’s outstanding debt Living in a state where the law requires surviving spouses to pay particular kinds of debt. This is most common in ...
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
Can items be taken to pay debts? Creditors have access to most of your estate, with exceptions. Assets that may be used to pay off debt could include: Real estate. Vehicles. Securities. Jewelry ...
In general, a deceased person’s debts will be settled by their estate. That means the property and assets they owned at the time of their death will be used to pay off their debts.
Pay Off Debts. While sorting ... "Employee death benefits may include survivor’s insurance, transporting of the deceased — if the death occurred on the job — or paying out unused vacation or ...