Concern 1: What happens to a departed person’s debts?There are several possibilities. As soon as an individual passes away somebody will need to manage the property left behind.
That person, known as an administrator or personal representative, is designated by a probate court, though the departed individual can select who serves because position by nominating somebody through a last will and testament. The individual agent is then responsible for repaying any remaining debt by utilizing estate funds and property.
Question 2: Is the executor personally accountable for the debt?
Question 3: Is the household ever accountable for the debts?