Legal Question in Wills and Trusts in New York
Wills
If a person dies with debt and the value of the estate does not cover the debt are the executors of the will liable for the debt?
Asked on 11/30/08, 6:14 pm
2 Answers from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Wills
No. Neither the executor nor the beneficiaries are responsible for the decedent's debts.
Mike.
Answered on 11/30/08, 7:18 pm
Warren Markowitz
Warren R. Markowitz, Esq
Re: Wills
The executor is responsible for administering the estate. The inability to pay the decedents debts is not their responsibility nor is it the responsibility of the beneficiaries.
Answered on 11/30/08, 8:46 pm
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