My great aunt pass away. She has no living husband or children. Who will have to pay her bills? She also had no will.
2006-11-28 04:52:57 · 11 answers · asked by krystal c 3 in Business & Finance ➔ Credit
Since she had no immediatte living relative to inherit the estate and had no executor assigned to handle the disbursement of the assets and settlement of liabilities, the courts will handle the estate. The first thing they will do is tally the value of the assets in order of liquidity, then list the creditors in order of rights to claim payment. They will then pay off debts attached to her with all available cash, then begin liquidating her assets until the debts are paid. Whatever is paid will be disbursed as decided by the court. Since there is no will, the remaining family will not have a huge say in who receives what or how much. I am sure the court will list what assets are remaining and allow family members to petition to the court who wants what, but it is up to the court to decide who gets what.
2006-11-28 06:42:29 · answer #1 · answered by dougzinboston 4 · 0⤊ 0⤋
Technically, the estate is supposed to pay the bills before it is passed on to the heirs. The court will specifically ask if there are any outstanding bills.
If the estate is too small to pay the bills, then the credit card companies eat the bill. Also any thing that passes directly to an heir (such as a bank account that is joint or joint with right of survivorship is not available to pay these bills, it passes outside of probate law). Life insurance is also not used to pay these (unless the estate is the beneficiary).
If the estate doesn't have enough to cover the bills, then no one else has to pay is the main thing.
2006-11-28 13:04:01 · answer #2 · answered by Star G 4 · 0⤊ 0⤋
I think the credit card companies will have to write off the bills. Especially if she was not married and didn't have any children. I am sure that they would love it if someone would take on the reponsiblility, but at this time it is no ones obligation to pay.
2006-11-28 12:56:59 · answer #3 · answered by AG 1 · 0⤊ 1⤋
If she had life insurance, it will come out of there. If she didn't, the credit card companies will have first goes at the money that is made off of the house or any other possessions. If there is still not enough money, the executive of her estate will be incharge of getting them paid or working with the companies to get the debt lowered and more easily paid off.
2006-11-28 13:03:22 · answer #4 · answered by soccerbabe_angel 3 · 0⤊ 0⤋
The executor of the estate should pay all outstanding bills using the assets of deceased.
2006-11-28 12:57:51 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The executor of the estate should pay the bills from her estate.
2006-11-29 02:48:18 · answer #6 · answered by Steve R 6 · 0⤊ 0⤋
No one will have to pay off her credit cards. The companies have insurance...
2006-11-28 13:00:21 · answer #7 · answered by mJc 7 · 0⤊ 1⤋
The money will come out of her estate before her estate is taxed and given to her inheritors.
2006-11-28 12:56:08 · answer #8 · answered by epbr123 5 · 2⤊ 0⤋
The credit card should have insurance cover for this.
2006-11-28 13:02:02 · answer #9 · answered by STP 1 · 0⤊ 1⤋
I'm certainly not paying anyone else's. I don't get along with my family like that for me to do those types of things for them. Forget it. My attorney knows this, it's handled.
2006-11-28 13:02:00 · answer #10 · answered by Answerer 7 · 0⤊ 1⤋