Tag Archives: Debts when Passing Away
Can Your Parents’ Debt Be Inherited?
Sometimes, parents leave behind more debt than assets. What happens when a parent leaves nothing but debt? Are you liable for their financial choices? Debts you could be responsible for A beneficiary is not individually responsible for a debt of the estate. However, if and when the asset is no longer part of the estate […]
Handling the Debts of a Deceased Loved One
The passing of a parent or other loved one is a difficult time. Not only is it an emotionally trying period of your life, but it will also pose some logistical challenges that you must overcome. One of the more complicated aspects of managing the estate of a deceased loved one is paying off all […]
What Happens with Debts when You Pass Away?
There are a few types of debt that will be forgiven upon your death. However, in most cases, debts and other financial obligations you have will be paid out of your estate. The following is a quick look at some of the most common types of debts and how they get handled when the debtor […]