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Forum nameGeneral Discussion
Topic subjectThe debt will belong to the estate of the decedent.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=4&topic_id=13151406&mesg_id=13151473
13151473, The debt will belong to the estate of the decedent.
Posted by Ms_MynTight, Tue May-02-17 09:09 AM
In Illinois any estate valued at over 250k and above go through probate, through this process, debtors are notified and paid. After this process heirs can collect.

the only time you would take on the debt of an estate is if you have cosigned for something in the estate or as duly appointed executor or person managing the estates affairs you get to spending money that is not yet due to you. Violating your fiduciary duty.



****UNLESS YOU ARE THE SPOUSE******
In which case all that debt is yours too. And you need pay that shit before you much from the estate. Except maybe annuities with named beneficiaries.



Everybody's got a lil light unda the sun....