Скачать или смотреть Who Will Pay For Your Debt After Death

Do you Know Who Will Pay Debt After Death? Estate Planning Attorney Anne E. Moore Explains Who Inherits Your Debt In This Short Video Blog.

Video Transcripts

Anne E. Moore:
This is a question that I get asked, um, not from the people who come to do wills, but the people who come to do probate when their parents or their loved ones have passed. They want to know that if they became the executor, the personal representative, are they going to be on the hook for the debts that can't be paid out of the estate? The answer to that is no. If they're a personal representative, they're responsible to pay debts, but only out of the assets of the deceased person.
​If they leave enough money to pay their debts, then the personal representative will be able to pay all the creditors. If they leave more debts than money, then the creditors may have to take less. If they leave only debts and no money, the creditors aren't going to get anything. But you are not on the hook for the debts of the deceased. Now, you may have to post a bond, but that would still be paid for out of the deceased's money. That would ensure that you do a good job of representing the estate. So it really should cost you no money to represent someone after they've passed.