Legal Question in Wills and Trusts in Michigan
My mother in law has willed her house, and contents, to ONE of her children. My mother in law has home equity loans and credit card debt that will not be taken care of by the time she passes. When the time comes will the child that inherits the house be responsible for the debt, since the house is essentially the entire estate, or will the house have to be sold even if it is willed to the one child? The child whom the house will go to has his own financial problems and will not be able to take care of the debt.
My wife is the executor of the estate. What responsibilities/liabilities does she have when it comes time to settle the estate?
1 Answer from Attorneys
The estate will be responsible for paying/negotiating the debt before anyone gets an inheritance. The personal representative has no personal liability for any estate debts. Speak with a probate attorney for more detailed info.
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