Concern 1: What takes place to a departed person’s debts?There are numerous possibilities. Once a person passes away someone will need to manage the property left.
That person, understood as an administrator or personal representative, is selected by a probate court, though the deceased individual can choose who serves because position by choosing somebody through a last will and testimony. The individual agent is then responsible for paying back any leftover financial obligation by utilizing estate funds and property.
Question 2: Is the executor personally accountable for the debt?
Question 3: Is the family ever accountable for the financial obligations?