Can a Child Be Held Responsible for Parent's Debt
- Illinois Probate Law
- Probate
Unless they co-signed a loan or credit carte du jour or jointly own property, children are not personally responsible for their deceased parent's debt in Illinois – just the estate is. If the parents' estate has coin or other assets, the estate is required to pay debts earlier paying the heirs. This can include unpaid medical bills, funeral bills and other expenses.
In Illinois, you lot can be held personally responsible for your deceased parents' debt if you lot:
- Co-signed or guaranteed a loan or line of credit for them
- Co-signed a credit card for them
- Jointly own holding
- If a parent's assets are transferred to their child before long before their death to avoid paying debts
- Mismanagement of a parent'south estate
But in general, children are not responsible for their parents' medical bills and other debts if the manor cannot cover the debt.
If You Are Executor of Your Parent's Will
If yous are the legal executor of your parent's will, and your parents died with debt, so you must comply with probate laws and are legally responsible for resolving the manor debt. (link to probate lawyer weblog)
Sometimes children of executors act too quickly to pay off their parents' debt and may pay bills out of the estate'due south assets for which they are not liable, or use the estate'due south cash which they might need for other expenses. An experienced probate lawyer can propose you on the debt left behind and paying claims and expenses .
Debt Collectors
If your parent dies and is in debt, and you did not co-sign for this debt, debt collectors are not allowed to phone call y'all to demand payment. The Fair Debt Collection Practices Human activity (FDCPA) says,
"family unit members typically are not obligated to pay the debts of a deceased relative from their own assets. What'south more than, family members – and all consumers – are protected past the federal Fair Debt Collection Practices Act (FDCPA), which prohibits debt collectors from using abusive, unfair, or deceptive practices to endeavor to collect a debt."
If you are being harassed for your deceased parent's debt by debt collectors, y'all can request they non contact you, and if you feel the FDCPA is being violated, you can sue the debt collection visitor and the individual debt collector for damages and chaser fees.
Meeting with a Probate, Trust, & Estates attorney helps you sympathize and manage any debt in your parents' estate. To talk to a Dupage Canton estates and probate chaser contact the Estate & Probate Legal Group in Lombard Illinois at (630) 382-8065.
Source: https://estateandprobatelegalgroup.com/are-children-legally-responsible-for-their-deceased-parents-debt/
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