What are the implications of paying a debt that was potentially invalid?

Apr 15, 2024 ... When you die, any debts you have must be repaid from your estate before other entitlements are shared out. This is the case whether or not you have made a will. Most debts will be paid by your estate, out of your assets, before the remainder is distributed to your heirs. The simple answer is that outstanding debt will be handled by your estate. Your spouse or family members aren't responsible for paying your debts after you die ... Mar 8, 2023 ... When a person dies, all of the assets and debts in their sole name are part of their estate. If you have a will, you have chosen an executor. Jan 12, 2023 ... Any property that you own will become part of your estate and may potentially need to pass through Colorado probate courts. Your creditors with ... May 19, 2013 ... If you have federal government loans, yes. This means that your estate will not have to pay back those student loans. Nov 25, 2022 ... Death does not do away with debts. However, instead of being personally responsible for your debt, the debt becomes owed by your estate. Jul 5, 2024 ... Payment: Debts are typically paid from the deceased's estate. An “executor” is appointed by you in your will (or by someone else, if necessary) ... What Happens to Your Debt When You Die? · Car Loan. The trustee can use your estate to pay your car loan. · Mortgage. If you inherit a home or if you were the ... Dec 7, 2023 ... "It's a morbid yet common worry: What happens to credit card debt when you die?" When you consider the average credit card balance in 2023 was ...