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Can judgements be transferred to children upon the death of a parent who owes the debt? |
If an adult child receives their parents belongings & possessions upon the death of the parent, can they be forced to pay an old judgement that is on that parents credit report? In California & parent owns no real property, disabled living on SSDI, can never work again & has several judgements from over 10 years ago before becoming disabled. Keeping in mind that I'm not an estate lawyer (but I am still fairly confident of my answer as half my firm does estate planning) -- no. The only way to collect on a decedent's debts is to collect from the estate. What happens in a typical probate is that all of the estate assets are entered into probate. All estate debts (meaning all debts owed by the decedent) are paid first and then the heirs given their share of what's left. Unless the debt is attached to some property(eg. car loan), no you should not be responsible for your parent's debt unless you co-signed it or somehow agreed to be responsible for it. In Texas, when the estate is probated, debts have to be listed. If the estate is not probated and you take property without paying the debt, you are liable up to the value of the property received. I have no idea whether CA law is the same. If it is written in the estate then yes the child is forced to pay the old debts if not then if only recving the life Insurance $$$ then no bebt needs to be paid all debts of the deceased is cancelled out.**for your anser child will not be forced to pay an old judgements********** |
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