Legal Question in Wills and Trusts in New York

power of atterney

I would like to know if I am responsible for my father's debts after his death, if I am his POA?


Asked on 12/18/06, 12:23 pm

2 Answers from Attorneys

Stephen Loeb Law Office of Stephen R. Loeb

Re: power of atterney

The estate is responsible for his debts, the executor is responsible for paying the debts out of the estate proceeds, if any. The heirs are not personally responsible for the decedent's debts unless they were guarantors or co-signors to the debt.

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Answered on 12/19/06, 10:51 am
Walter LeVine Walter D. LeVine, Esq.

Re: power of atterney

UNLESS YOU CONTRACTED FOR THE DEBT IN YOUR INDIVIDUAL CAPACITY, OR THE PROCEEDS OF THE DEBT WERE TO BE USED FOR YOU PERSONALLY, OR THE DEBT WERE OBTAINED UNDER FRAUDULENT ACTIVITY IN YOUR CAPACITY AS HOLDER OF THE POA, YOU SHOULD NOT HAVE PERSONAL LIABILITY. THIS IS A RESPONSE TO AQN INTERNET QUESTION AND THE REPLY IS NOT INTENDED TO BE LEGAL ADVICE OR AS CREATING AN ATTORNEY-CLIENT RELATIONSHIP. OMITTED OR MISSING FACTS COULD PRODUCE A DIFFERENT RESPONSE.

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Answered on 12/18/06, 12:34 pm


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