Legal Question in Credit and Debt Law in New Jersey
Estates
If your parents both pass away leaving credit card debt because their daughter used their credit card w/out authorization does it have to be pd. ? If so, by who? They do not own a home. The one who stole the credit cards is the Executor of the Estate another holds both parents Power of Attorneys in their name.
1 Answer from Attorneys
Re: Estates
First, the powers of attorney are void after the death of the principal.
Arguably the executor of the estate has a conflict of interest unless the unauthorized credit card debt is repaid. The estate is liable for the debt to the extent that assets remain after higher priority debts are repaid.
Much more can be said about this situation. If you have an interest in the estate, you should consult your lawyer.
See also: http://info.corbettlaw.net/lawguru.htm
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