If when my grandma passes she leaves us no money who will pay her credit card debts?

My grandma is a spendaholic. She depleated her savings and no is just using what little money she gets to purchase things (most of which she will never use) from catolouges. She lives with us and about 1 year ago signed her house over to my dad so she has no estate. Who would pay her debts if she has no money to cover them?

If when my grandma passes she leaves us no money who will pay her credit card debts?

The sum total of her goods must be liquidated by her Executor, and any debts she had must be paid out of those funds. This would include personal property, like all the stuff she is buying that she will never use. The executor must make a reasonable effort to get the best price he can for these items.

If there isn%26#039;t enough money left to cover all the debts, they lose, too bad, so sad. They cannot make her relatives financially responsible for the debts. Check with a lawyer or bankruptcy trustee in your area to be sure, as laws vary from place to place, but the above will generally hold true.

If you KNOW the facts, people won%26#039;t be able to intimidate you into something that isn%26#039;t required. IE: A credit company may call, and tell you that they will sue you if YOU don%26#039;t pay, since she lived with you. They will be bluffing, trying to get the money, because debt collectors get paid a percentage of what they recover. If you KNOW that you legally don%26#039;t have to, by checking with a lawyer, then you can tell them to %26quot;Go Ahead, I%26#039;ll see you in court%26quot; and hang up.

If when my grandma passes she leaves us no money who will pay her credit card debts?

Naturally you as well and other relatives have to meet the cost of her expenditures. SHE IS AN OLD LADY ,let her enjoy her life peacefully the remnant of her life.