Legal Question in Wills and Trusts in Idaho
Who is responsible for debt?
A family member recently died, leaving a lot of debt and very little assets. There is no way, if everything he owned is sold it will pay the outstanding debt. If the executor sells everything, and pays what can be paid, and this leaves a lot of outstanding debt, can the executor, or anyone in the family be held responsible for this outstanding debt? The deceased family member has no wife, and no children, only brothers.
1 Answer from Attorneys
Re: Who is responsible for debt?
In Maryland, the executor or other family members noramlly cannot be held to pay the decedent's debt. But if the family makes personal payment they could be deemed liable or if the PR breaches duty he/she could be liable. Total debt needs to be ascertained which in MD will take 6 months from date of opening the estate. Then each creditor ONLY receives their pro-rata portion of available funds. ie if the credit card is 20% of the total debt, then that company received 20% of the total available funds and not one penny more.
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