Questions: Executors must pay the debts of the decedent's estate from their own personal funds. True False

Executors must pay the debts of the decedent's estate from their own personal funds. True False
Transcript text: Executors must pay the debts of the decedent's estate from their own personal funds. True False
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Solution

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The answer is False: Executors must pay the debts of the decedent's estate from their own personal funds.

Explanation:

  • Executors are responsible for managing the decedent's estate, which includes paying off any debts. However, they do not use their personal funds to pay these debts. Instead, they use the assets from the estate itself to settle any outstanding obligations.
  • The executor's role is to ensure that the estate is settled according to the will and applicable laws, but their personal finances are not involved in this process.
  • If the estate does not have enough assets to cover the debts, the executor is not personally liable for the remaining debts.

In summary, executors manage the estate's assets to pay off debts, but they do not use their own money for this purpose.

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