Legal Question in Wills and Trusts in New Jersey
who's liable?
If I were to die tomorrow and I have outstanding debts, who's responsible for them? I'm divorced with three grown children.
Asked on 10/04/00, 11:59 am
1 Answer from Attorneys
Jonathan Chester
The Law Office of Jonathan S. Chester, Esq., LLC
Re: who's liable?
Generally, your estate is responsible for your debts after your death. This means that your executor would be responsible to determine the nature and extent of any debts, and then pay them according to law. If there were insufficient assets in your estate, the debts would be paid depending on their priority according to law (e.g. funeral, medical, taxes, etc.).
Answered on 11/01/00, 2:32 pm
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