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In most cases, your estate is responsible for paying off your credit card debt. An estate is the sum total of your assets and liabilities, including bank accounts, property and even unpaid debt.
This will help you pay down the debt more quickly and at a lower cost during the remainder of your life. Consolidate your personal loans to protect your spouse. If you are married and have moved ...
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 ...
Abatement of debts and legacies is a common law doctrine of wills that holds that when the equitable assets of a deceased person are not sufficient to satisfy fully all the creditors, their debts must abate proportionately, and they must accept a dividend. [1] [2]
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 ...
A copy of the death certificate of the AOL account holder, issued in the United States; A copy of the requester's government-issued ID; and; One of the following documents: • A copy of the will of the deceased AOL account holder giving the requester access to digital assets; or