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Parents estate is left to child does child pay parents debts?
The estate is responsible for paying off any debts. However, in most cases if the debts exceed the value of the estate, the child is not required to pay the difference. This may not keep the collectors from trying.
Is an adult child of a deceased parent responsible for foreclosure debts?
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
Can a man file bankruptcy without his wife's involvement and if he does how will she be affected?
A husband (or wife) may file for bankruptcy separate from his or her spouse. Technically speaking, this should have no effect on the other spouse as they are filing bankruptcy for their separate debts and you will not be held responsible for their debts nor will it be reflected on your credit report, etc. It is important to note that those debts you held jointly will remain with you (the spouse that did not file for bankruptcy).
What if there are no estates will the children have to pay debts left by parents?
A person's estate is responsible for their debts unless someone else agreed to pay them.
Can you be held liable for your parents debts?
Generally, no. Not unless you agreed to be responsible and signed an agreement to that effect.
Are parents responsible for debts of a single adult child after death?
The decedent's estate is responsible for the debts of the decedent.
Can an adult child inherit a parents debt if there are no assets?
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
Parents estate is left to child does child pay parents debts?
The estate is responsible for paying off any debts. However, in most cases if the debts exceed the value of the estate, the child is not required to pay the difference. This may not keep the collectors from trying.
At what point in a Chapter 7 bankruptcy is it considered final with no new debts eligible for discharge?
When you file for Chapter 7 bankruptcy, you are responsible for listing all of your debts. Some debts are generally not dischargable (i.e. child support, most taxes, student loans, secured debts, etc.). When you receive a discharge for dischargeable debts, the discharge generally applies to debts listed in your bankruptcy filing and any subsequent amendments. The discharge does not apply to date incurred after you filed bankruptcy and generally does not apply to debts that you failed to list in the bankruptcy.
Are the parents of a deceased adult child with no estate responsible for paying unpaid debt?
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
Are children responsible for parent debt after their death in VA?
The child is not responsible for the debts of the parents. The estate has to resolve all of these before they can close it out.
Can you file back child support in a bankruptcy in the state of Alabama?
Bankruptcy is a Federal process and has no effect on child support. Bankruptcy does not dismiss child support debts.
How do you pervent someone from filling bankruptcy on back child support?
... prevent ... Bankruptcy is a Federal process and has no effect on child support. Bankruptcy does not dismiss child support debts.
If both parents dies and wills the adult child the house and land what bills are you responsible for Is the adult child responsible for medical credit cards etc. bills?
The child is not responsible. 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 children responsible for medical bills of a deceased parent when there is an estate or will?
Children are not responsible for the debts of their parents. The estate must settle the debts. The exception would be if a child signed any paperwork gaurenteeing the medical costs.
Bankruptcy if married can one spouse file bankruptcy independently from the other Is the one spouse then held responsible for the first spouse's debts if bankruptcy Is filed?
One spouse can file bankruptcy separately and both are held responsible.
Are the parents of a deceased adult child with no estate responsible for unpaid medical bills?
It is not the parents, but the estate that is responsible for any remaining debts. That will include medical bills. If there is not enough in the estate to cover them, someone will not get paid.
