If an New Jersey adult dies with outstanding debts, is the debt passed on to the children?
Asked on 10/18/09, 10:45 pm
2 Answers from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
No. The children are generally not liable - although there may be some exceptions for welfare-type obligations. Please be aware, however, the assets of the estate, including personal items, must be used to pay the obligations first beforebeing distributed to the children.
I hope this helps!
Ron Cappuccio
www.SaveYourEstate.com
Answered on 10/24/09, 3:36 am
Walter LeVine
Walter D. LeVine, Esq.
I agree with Ron. The estate assets are used to pay debts and children are only responsible if they guaranteed the debt.
Answered on 10/24/09, 12:35 pm
