There is an estate! If you haven't opened one, you should. The estate is responsible for the debts. Consult an attorney for the area that you live in for specifics.
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.
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
yes due to the fact that they are your parents but sometimes depending if child has life insur. they sometimes do not have to pay.
No, not unless the child was a co-signer and agreed to be responsible for payment of the debt.
Generally no, unless they were a co-signer on the account.
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
The decedent's estate is responsible for the debts of the decedent.
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.
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
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.
I think that would be paid out of the estate and not by the child.
The law say until they are an adult, the parents are responsible. That would be 18 years old.
Unless the "child" is an adult there generally is no estate. If they are an adult the relative nearest to them inherits For instance, my estate would go to my mother since she is my nearest living relative.
Not if that child is married then yes the parents would be responsible.
Sometimes, but the an adult child has their own life now, right? The parents aren't really responsible. They probaly did there best to grow their disabled child as best they could.
That depends on the State the will is probated in. For instance, in New Jersey, an adult child has no rights to a parents estate if he was not mentioned in the will. The parent has the right to give his possessions to a charity if he wishes to do so.
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.