Deceased Household Members, Debts, and Lenders: 3 Common Concerns

Concern 1: What occurs to a departed person’s debts?There are several possibilities. When a person passes away someone will need to handle the property left behind.

That individual, referred to as an administrator or personal representative, is selected by a court of probate, though the departed individual can pick who serves in that position by choosing someone through a last will and testimony. The personal agent is then responsible for paying back any leftover debt by utilizing estate funds and property.
Question 2: Is the administrator personally responsible for the debt?

Question 3: Is the household ever accountable for the debts?