Asked by Yassine Wydadi on May 11, 2024
Verified
Joseph dies with no assets,but over $100,000 in personal debt.Joseph's daughter Samantha,who is very wealthy,is made executor of his estate.Joseph's creditors assert that Samantha must personally pay Joseph's debts because she is wealthy,Joseph's daughter,and now the executor of his estate.Is Samantha liable?
Executor
An individual appointed in a will to administer the estate of the deceased, ensuring that their wishes are carried out.
Personal Debt
Money that is owed by an individual, as opposed to debts owed by corporations or governments.
- Understand the legal duties resulting from individual guarantees.
Verified Answer
NS
Nancy SachdevMay 13, 2024
Final Answer :
Samantha will be required to pay the debts of the estate left behind by Joseph.However,she is not legally obliged to pay the creditors from her own pocket,unless she,as the executor,agrees in writing to pay Joseph's debts.There is no legal obligation for a child to pay the debts of her parent.
Learning Objectives
- Understand the legal duties resulting from individual guarantees.