Legal Question in Credit and Debt Law in New Jersey
Credit card balance of deceased father
What would happen to the balance of
credit cards now that my father passed
away? He was the only user and the
account holder. Would my mom or any
of his children be responsible to pay it
off?
2 Answers from Attorneys
Re: Credit card balance of deceased father
The debts are debts of your father's estate. Debts of an estate are paid in the order that the applicable statute requires. If there is not enough money, the estate is bankrupt.
Neither you nor your mother are personally liable for the debts of the estate. However, you can be held liable to creditors of the estate if you take money from it that should be used to pay the creditors.
You should consult a lawyer who handles estates to get specifics.
See also: http://info.corbettlaw.net/lawguru.htm
Re: Credit card balance of deceased father
Whoever is the executor of your father's estate has a duty to pay his debts before disbursing any money to beneficiaries.
If there is no estate (Note- I do not mean if there is not a will), and there is no money, then they cannot pursue you for the debt. However, if there is money on hand, and his executor disburses money in derogation of known debts of the estate, the executor could be on the hook for the money.
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.
