CAN AN ESTATE HAVE DEBT?

​An estate consists of its assets and liabilities (debts). Estate debts reduce the estate value and it is the estate administrator who is obliged to pay them from the assets directly. Extraordinarily it may turn out that the debts exceed the assets. If this is a case the estate is declared insolvent and you will not inherit anything from it.

You will not be made liable to any payment in favor of our office, then.

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