what is a decendant liable for
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what is a decendant liable for
The father passed away leaving a son and an adopted daughter. He was not married. The only asset is an old truck worth about 1,500.00.He has about 20,000.00 outstanding debt. There is about 6,000.00 in the checking account but the son cannot access it. What are the decendants legally responsible to do? Do they need to contact the creditors?
Are they responsible for the debt in Kansas?
Asked on June 30, 2019 under Estate Planning, Kansas
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Actually, the heirs are not legally required to do anything. The creditors can try to take legal action against the bank account but that does not involve the heirs. Further, if the creditors just charge off the account, then the $6000 will not be taken and the heirs could then file a simplified small estate prcodecure to get the money.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
Actually, the heirs are not legally required to do anything. The creditors can try to take legal action against the bank account but that does not involve the heirs. Further, if the creditors just charge off the account, then the $6000 will not be taken and the heirs could then file a simpplified small estate prcodecure to get the money.
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