QUESTION

my dad passed away on friday. he has 3 credit cards with balances

Asked on Jan 03rd, 2017 on Trusts and Estates - New Jersey
More details to this question:
will his estate be responsible for paying these cards in full?
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1 ANSWER

Elder Law Attorney serving Toms River, NJ
Partner at Diana L. Anderson
2 Awards
Estate debts are paid in a priority.  First, pay all of the expenses of the funeral, pay yourself back and fees you incurred for probate, or anything else, pay the attorney (if you had one) and then I would wait.  It will take some time before the final bills of last illness come in.   Usually the credit card companies will accept some pay down (as low as 1/3 of the actual debt).  Wait until you get further along in admininstering the estate to see what debts are outstanding and what assets are avaliable.     
Answered on Jan 04th, 2017 at 10:47 AM

Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship

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