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#1 In New York State if there is not enough money in the estate to pay all outstanding debt of the deceased is anyone responsible for what remains? IE: credit cards.

I have been told by my lawyer that I, the decedents daughter and estate executrix will be responsible for any debt left after the estate account is empty. 

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I think you may have misunderstood something.

 

The estate pays its debts to the extent that the estate has sufficient "assets" to pay them., not just money.

 

When the money runs out the executor must sell any remaining non-money assets to cover the remaining debts.

 

So if there is a house, a car, personal property, jewelry, antiques, etc, you must sell those items to pay the credit card debt.

 

You, as the executor can be held responsible for remaining debts if you fail to perform your fiduciary duties by selling everything and paying all the debts to the extent that the sale enables you.

 

Once the "value" of the estate (not just the money) is down to zero and there is nothing left, that's when you give the bad news to creditors that they are out of luck.

 

Have a chat with your lawyer about all that and see if I'm right.

 

 

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15 hours ago, Wren said:

if there is not enough money in the estate to pay all outstanding debt of the deceased is anyone responsible for what remains?

 

Generally, no.

 

 

15 hours ago, Wren said:

I have been told by my lawyer that I, the decedents daughter and estate executrix will be responsible for any debt left after the estate account is empty.

 

Ok....and?  After your lawyer told you this, did you ask him/her why that is the case and did he/she explain it in a way that makes sense to you?

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