The estate can require that the beneficiary pay the money back. Or they may offset the amount against what they get. If there is anything left over, there shouldn't be a reason to make them pay it back.
You should ask the attorney who is handling the estate. If it is a small estate there may not be any tax consequences either way.
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
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A debtor owes someone else money. A creditor is owed money from someone else. So, a debtor owes a creditor. Or, a creditor is owed by a debtor.
Yes this might be possible.
A creditor beneficiary is one to whome the promisee owes a debt
You should ask the attorney who is handling the estate. If it is a small estate there may not be any tax consequences either way.
They can go after the estate. Which means if an estate wasn't opened and debts resolved, they are coming after you.
Simple, simply offset their share against the loan. Here's an example: House $250,000 Cash and bonds - $150,000 Vehicle and goods- $50,000 Owed to debtors - [$ 50,000] Owed by beneficiary - $50,000 Net value of Estate - $450,000 Each of the three would get $150,000 from the estate, but the one that owes money would get $100,000 in money and $50,000 in debt relief.
It will depend on the documentation and when the debt was incurred. The executor can bring suit on behalf of the estate.
The value of the estate, which includes the debts owed to it as well as the debts the estate owes, is divided up into three parts. The amount those that owe the estate money receive is off-set against the debt. If there are more debts owed by the estate then it is worth, those owing money will have to pay it to the estate.
I'm confused... Your the benficiary of what? Life Insurance or a Will? The deceased left debts...and taxes? If you are the beneficiary of a life insurance policy...the proceeds go to you..in full (after paying back any loans taken against the policy), no matter what. Independent of the "estate" of the deceased. If your a beneficiary as in a Will of the decedent...then his bills of whatever type get paid before whatever your supposed to get is available. (If he owes other people they must get paid. It kind of makes sense that he can't leave you money he doesn't really have). Answer2: No. Any debts are paid out of the estate left by the deceased. If the estate is not large enough to cover the debts it ends there. The beneficiary gets nothing but does not assume the debts.
Not unless he owes money to the state. The estate has to resolve all debts and then the laws of intestacy or the will will be executed.
AnswerYou haven't explained the reason for the lien. If the beneficiary owes the siblings any money and refused to pay they can sue in court for the debt and obtain a judgment lien on the property.
Not really enough info given. If it is YOUR will you can simply reduce the monetary amount of the beneficiary's inheritance by the amount of money that they owe you.
Generally, an executor is in a fiduciary position and thus prohibited from using the assets of an estate for personal use. It should be reported to the court immediately.