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Who Pays My Debts When I Die?

Who Pays My Debts When I Die?

When a person dies, children or heirs often wonder if they become responsible for their parent’s debts. Generally speaking, the answer is no. The decedent is responsible for all of their debts. The personal representative pays all final debts of the decedent with money that is in the estate. Some amount of money are protected and exempted from the payment

How to: Talk to a Child about the Death of a Loved One

How to: Talk to a Child about the Death of a Loved One

Children are especially vulnerable to psychological problems after the death of a parent or a sibling. This vulnerability can be exacerbated by survivors who are not able to provide the support and comfort a bereaved child needs. In Bereavement: Reactions, Consequences, and Care, the Institute of Medicine addresses the consequences of bereavement during childhood and adolescence.

Question: My husband died without a will and there isn’t a lot of money, do I have to apply for letters of administration?

Question: My husband died without a will and there isn’t a lot of money, do I have to apply for letters of administration?

Typically, when a person dies without a Last Will and Testament, the person who will be acting as the executor needs to apply to the local Surrogate’s Court for the Letters of Administration. (Technically speaking, if there is no will, the executor is called an “administrator,” but that’s a different blog post.)   There are three common exceptions to the requirement to