Legal Question in Wills and Trusts in Washington
who pays debt of deceased
My mother has a lot of credit card debt and a mortgage on her house. The only clear asset she has is her vehicle. She wants me to be the executor of her will. If she dies with all this debt will I be responsible for payment of it? She does not have enough life insurance to cover everything. Possibly only the house.
1 Answer from Attorneys
Re: who pays debt of deceased
Her estate (her assets and her debts/liabilities) will be set off against each other and if there is any thing left, (for example, the house after the morgage is paid with life insurance) then that goes to the heirs and/or beneficiaries. An executor who acts properly is not responsible for payments of estate debts where there is not enough funding in the estate to pay all of those debts. Let me know if I can be of further assistance.
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