Q: MIL died jan 8th with over 100k credit card debt none of the creditors have made a claim against the estate do we pay?
we have many credit card companies and debt collectors sending letters of condolance and saying she owed money but it is past the 9 months and we do not have enough funds to pay them all, can we distribute what is left legally to the heirs?
A: You need to speak to a lawyer. IN general, the executor of the will or administrator of a New Jersey estate should pay all debts before they distribute any assets otherwise they could face rather severe penalties.
Morris Leo Greb agrees with this answer
A: Debts of the decedent must be paid y the Estate before distribution the the beneficiaries. If any or all of the beneficiaries signed the credit appiication, that person will be personally liable for the debt.
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