Legal Question in Wills and Trusts in Ohio
If I have power of attorney and the person I am working on behalf of dies, do I have the responsibility of taking on their estate? Also, if I am the executor or some one's estate and they pass away, am I responsible for their debts?
2 Answers from Attorneys
Once the person dies you have no more responsibilty as power of attorney and cannot act as power of attorney. If you are appointed as executor you are responsible to make sure that the deceased person's debts are paid from the estate assets. If they do not have enough assets to pay all of their debt the estate will be insolvent and the debts will be paid in order of priroity. An executor does not need to use his or her own assets to pay the estate debts.
Further, the unsecured debt, such as credit card debt, will only be paid by "probate assets". An executor is not personally liable for the debts of the estate.