Can I Give My Debts to Someone in My Will?
If you are planning on leaving your assets to your family after you die, you may want to include provisions for paying any outstanding debts. Most people owe money during their lives, and most of them will leave a part of it behind. The amount you can leave to heirs depends on the type of debt you owe.
Secured and Unsecured debts
There are two types of debts: secured and unsecured. The unsecured category includes credit-card bills and medical expenses. The secured category involves loans you have on the property such as a car or a house. If you do not pay your loans, your creditors can take your property to settle the balance.
The executor of an estate
Some states require the executor of an estate to pay off all of the estate’s unsecured debts. In some cases, the executor will only pay some unsecured debts. This is determined by the state’s probate laws. However, the executor can also leave instructions in the will about the payment of unsecured debts.
Consult a lawyer
If you owe money, you should consult a lawyer to determine the best way to go about paying it. You can do this in a will if you plan to leave your assets to your heirs. If you do not plan to leave your heirs any monetary assets, you do not need to include a provision in your will for paying your debts.
Joint account
If you have a joint account, your spouse or other beneficiaries are responsible for the account. If you do not have a joint account, you can use an authorized user, such as your parent or other family members, to be able to use your account.
Free consultation from one of the best Law Firms
If you have questions, you can get a free consultation with the Best Estate Planning Lawyers.
Parklin Law – Estate Planning Lawyer
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
Parklin Law Official Website
Read more articles
Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
When you need a Lawyer, contact this law firm:
Parklin Law
Vernal, Utah
Jump to navigationJump to search
|
Vernal, Utah
|
|
|---|---|
.jpg)
East entrance of Vernal (2012)
|
|
Location within Uintah County and Utah
|
|
| Coordinates: 40°27′17″N 109°32′8″WCoordinates: 40°27′17″N 109°32′8″W | |
| Country | United States |
| State | Utah |
| County | Uintah |
| Settled | 1876 |
| Named for | Vernal |
| Government
|
|
| • Mayor | Doug Hammond as of January 2018[1] |
| Area | |
| • Total | 4.62 sq mi (11.97 km2) |
| • Land | 4.62 sq mi (11.97 km2) |
| • Water | 0.00 sq mi (0.00 km2) |
| Elevation
|
5,328 ft (1,624 m) |
| Population
(2010)
|
|
| • Total | 9,089 |
| • Estimate
(2019)[3]
|
10,438 |
| • Density | 2,258.33/sq mi (871.95/km2) |
| Time zone | UTC−7 (Mountain (MST)) |
| • Summer (DST) | UTC−6 (MDT) |
| ZIP codes |
84078-84079
|
| Area code | 435 |
| FIPS code | 49-80090[4] |
| GNIS feature ID | 1433885[5] |
| Website | vernalcity.org |
Vernal, the county seat and largest city in Uintah County is in northeastern Utah, approximately 175 miles (280 km) east of Salt Lake City and 20 miles (32 km) west of the Colorado border.[6] As of the 2010 census, the city population was 9,089. The population has since grown to 10,370 as of the 2018 population estimate.[7]
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
No data matched by id...
Transferring Debts using a Willhttps://t.co/Y8At3YGdTs#ParklinLaw#ParklinLawUtah#ParklinLawEstate#EstatePlanningLawyerUtah#EstatePlanningAttorneyUtah#EstateLawyerVernalUtah pic.twitter.com/LbyhQcplLS
— Macky Douglas (@DoeMacky) December 20, 2022
Comments are closed.