Legal Question in Wills and Trusts in Georgia
deceased father's mortgage
Dad passed away, I realize estate is responsible for mortgage. However, not enough left in estate to cover balance. Probably won't get pay off due to economy. Am i personally liable for mortgage balance if there's not enough in estated to cover it? Insurance policies listed me as beneficiary. Will I be required to pay from there if I am responsible
1 Answer from Attorneys
Re: deceased father's mortgage
The executor is only responsible for paying the debts of the estate to the extent there are assets to pay for them. You are not liable to creditors by virtue of your position. However, there are hierarchies concerning which creditors should be paid before others, and to the extent that an executor does not follow the law, he can be held personally liable.
You should consider hiring a lawyer to help with probate. Good luck.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
