The article provides answers to questions related to paying debts of a deceased relative including an individual's legal obligation, information to provide to a debt collector, and the obligation to speak to a debt collector.EBSCO_bspHealth Care Collector: The Monthly Newsletter for Health Care ...
So, who is responsible for paying back the posthumous debts of the deceased? It pays to consult a lawyer because in a lot of circumstances, it really depends. Loan and Credit Cosigners Anyone who cosigned for loans or credit on the behalf of the deceased are fully on the hook for paying...
If so, the executor of the estate will take care of paying the funeral bill. Otherwise, usually a relative or friend pays for the funeral. Do I have to pay my deceased parents debts? When a person dies, his or her estate is responsible for settling debts. ... Lenders want to be ...
When it comes to inheritance taxes, the payment responsibility usually falls on the estate of the deceased. The executor or personal representative of the estate is typically responsible for fulfilling the tax obligations. For gift taxes, the individual making the gift is responsible for paying the...
So who pays for the funeral? Whether there is a large family, no family, or even just a handful of friends left behind, which person is responsible for covering the funeral costs?The Deceased: Ideally, the deceased will pay for their own funeral. This is done either by pre-planning the...
Alexandria Forrester(half-niece; deceased) Dominick "Dino" Damiano(half-nephew) Nicole Marone (half-niece; deceased) Jack Hamilton Marone(half-nephew) Zende Forrester Dominguez(half-nephew; via adoption) Children Unnamed child (abortion; with Morgan; circa 1983) ...
Assumptions he either has mob debts or a new York lover are found false, he actually pays for the apartment where he was raised by his deceased father. Angela tries to convince him to cut that irrational tie to the past. 7.9/10 (144)Rate...
Another option that your heirs can consider is selling a home to pay off all of the debts. If you do not have any family members to inherit the home, the lender will simply foreclose on the home and sell it. If you do have family members, they can elect to sell the house and use...
An intestate estate is one for which the deceased did not leave a will, form a trust, or take any other steps to direct how they want their estate settled and who they want to receive their assets. Their debts are paid from estate assets and anything left over is distributed to beneficia...
As with federal estate tax, these state taxes are collected only above certain thresholds. Even at or above those levels, your relationship to the deceased may spare you from some or allinheritancetax. Notably, surviving spouses and descendants of the deceased rarely, if ever, have to pay this...