Can credit card companies take your house after death?
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Can credit card companies take your house after death?
How a debt is handled when a person dies depends partly on whether it is secured or unsecured debt: Secured debt is money that’s borrowed against a particular asset, such as a car or a house. If you cannot repay this kind of debt, the lender may be able to repossess the asset to recoup their loss.
Can executor be held liable?
As an executor you can be held personally liable for any damage to property which has not been secured or insured. Tax Liabilities: If you have distributed all the assets of the estate to the beneficiaries and the estate still owes money to the tax office, as executor, you are personally liable to make the payment.
Do assets automatically go to spouse?
Spouses will now automatically inherit the estate of their partners who die without leaving a will, after the NSW Parliament passed new legislation. State Attorney-General John Hatzistergos says that previously the estate would have been shared between the spouse and the children when someone died intestate.
