Legal Question in Credit and Debt Law in New Jersey
Liability after death
We just had a death in the family. Making arrangements yesterday a question came up- the deceased was over 21,single and living with his mother. Are any family members responsible for any debts he incurred?
Thanks
2 Answers from Attorneys
Re: Liability after death
No one is ever responsible for a decedent's debts except in some rare cases such as spouses to the extent the debt was for necessary items such as food, shelter or medical care; if he was a minor which here, he was not or; if someone had guaranteed a debt such as by co-signing a loan.
The Executor of his Estate (or the Administrator appointed if he had no Will) must make sure his assets are liquidated to pay his debts and if there's not enough money, then pro-rata to each creditor, e.g. 10 cents on the dollar. Certain debts have priority over others so it is important to know whom to pay, when and how much.
Re: Liability after death
Only to the extent the deceased had any assets or another person co-signed. Any questions call.
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.
