How Much Power Does an Executor Have?
There are continuing misconceptions regarding what powers are held by a personal representative and when he can exercise them.
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There are continuing misconceptions regarding what powers are held by a personal representative and when he can exercise them.
Generally, when settling an estate, debts and expenses are paid first, charitable and spousal transfers follow, and applicable estate taxes are levied afterward.
Unfortunately, credit card debts do not disappear when you die. Your estate, which includes everything you own–your car, home, bank accounts, investments, to name a few–settles your debts using these assets.