Concern 1: What occurs to a departed individual’s debts?There are a number of possibilities. As soon as an individual dies somebody will need to handle the property left.
That person, called an administrator or personal representative, is appointed by a court of probate, though the deceased individual can pick who serves in that position by nominating someone through a last will and testament. The personal agent is then responsible for paying back any remaining financial obligation 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 financial obligations?