They tried to insist that I pay for my mother-in-laws medical bills. My wife, her daughter had already died from renal failure. She (my mother-in-law), lived with us for around 8 years. She was NEVER my dependent. They said "somebody has to pay these bills!" I told them, "she has a bed, a chair, knitting supplies, a knitting machine and her clothes in her room... come pick them up". I never heard from them again!
The ONE & ONLY person responsible for anyone's debt, is the person who signed the papers to acquire that debt! Thus, when I die, my children are NOT RESPONSIBLE for ANY debts that I have incurred. My "Estate" is responsible to pay any remaining debt, and if my "Estate" does not have sufficient means to pay that debt, the "debtor" will just have to file that debt as a "charge off."
As a son of attorney, the only way they can sue you for the other person debt is if you both own the property together or you both have the same account held jointly together. Then they can sue for the other person’s half of their assets
er last years. She lived in her mother’s home, which was put in her disabled brother’s name, after many profitable home sales, before moving to Fla. They sold the house, kept the car, ran up credit cards, etc. and have learned to take full advantage.
I was the executor of my mothers estate. There was a will. Our state requires every estate go through probate court. The Probate Judge guided me through all the filing and preparation to distribute her considerable non property assets. The death was published for 30 days in the County Register newspaper. After that 30 day time period, the judge signed off on the estate. She told me no claims were filed and if anyone comes forward beginning today, ignore the claim. The window to collect closed forever. Months later, bills started coming in for hospital care, ambulance services and various emergency room doctors and services, totaling almost $50,000. Too late boys. I save all bills in her file but disregard them.
After my wife died, the bill collectors started calling. I told them she died and left no estate, not even an insurance policy. They never called back.
Same here when my parents died. They were really mouthy until I told them they had died and they were just going to have to write it off. I sent death certificates. Never heard from them again.
I went thru this & all they asked was for me to send the death certificate & a copy of the bill,charged off no problem.Some of them even took my word for it,no paperwork required
Good information. When my dad died, his only debt (that I know of), was about $100 on a credit card. I called to cancel the card and asked about paying the balance and they said nope, no need.
@@DragonNinja4680 No need to do that, son is not legally responsible for his dad's death. The only thing the bank can do is file a climate against the estate.
Years ago when my BIL died, we received a bill in the mail for his huge and long unpaid electric bill. So Cal Edison harassed us relentlessly even though we had NEVER lived with our BIL and our names weren’t on his bills in any way. We sought the advice of an attorney and even with a letter from him, the electric company did not back down. Their assertion; my BIL had the same last name as us and he was a family member. Unbelievable. And so shady in our opinion.
If you have an electricity ombudsman you can file a complaint with them about your power company and they will read the riot act to them and most likely fine them and if this is a systemic issue the power company could be up for paying compensation to everyone they harrassed and collected money from in the same circumstance.
@ - very interesting information. I wish I had known this at the time, but unfortunately the situation occurred more than 10 years ago. Thank you though.
In america, the debt is the responsibility of the deceased persons estate. So the debts get paid from any assets remaining (houses cars, gold coins cash stocks bonds etc.). If after the assets are used, there is still debt, the creditors are just stuck. Debt cannot be forced on a third party who is not a signatory to the debt.
It can under certain circumstances. Some bequeaths are considered personal items (most jewellery, furniture and keepsakes), but some are considered assets (cars, homes…). If you are a beneficiary and are bequeathed an asset from a person with debt, you have to be careful because if you accept it, you may assume some or all of the debt.
@ not quite that easy. Significant debt is usually tied to assets as collateral. It doesn’t matter whether the asset is property, a vehicles, stocks, jewellery, the lien stays with it until it’s cleared no matter who owns it.
In the UK your debts die with you. The only exception is if the debt was in joint names where the survivor could be liable. Read the small print to be sure.
@MENSA.lady2 In Canada, it's common to buy mortgage insurance. It's basically a form of life insurance where the mortgage holder is named as the beneficiary. With this, if the main bread winner passes away or is permanently disabled, the mortgage is immediately paid in full.
Another exception is a debt secured on property- could be a house or vehicle etc. Even if left to you in a will, the loan co have the right to recover either the property or the money- can get messy.
Predatory lenders is why. They make the rules and are intent on dismantling the education system entirely and profitting from it. Corporate welfare is killing you too but you cannot mouth those words. Can you ?
We were the only related survivors to my husband’s aunt when she died at 93, having lived in an assisted living complex for 5 years with very minimal additional assets. The demand for those units was very high…and despite the fact that her apt. was instantly rented within 5 days of her passing….the corporate owners of the complex demanded that we pay off the remaining 8 months of her lease. There was no wording in the lease to support this and she was the only signor of the document. I was so steamed at this corporate bs that I told the company to leave us the eF alone and to go get their money from a corpse.
the most they could have demanded of her if she had skipped the lease (which obviously she didn't do) was 5 day's worth of rent, pro-rated. but with her death, cue the "you get nothing!" line from Willy Wonka. glad you stood your ground
My parents both died a day apart in the mid 80's. This video pretty much summed up what our experience was. I was the executor of the will. They were heavily in debt. The house was foreclosed on 90 days after their deaths. One of the guys from the mortgage company tried to harass me, I just hung the phone up. In the meantime, I had to liquidate assets, there wasn't much of value to liquidate. I paid what debtors I could and sent letters of explanation to the rest. Fortunately, my dad was good friends with a lawyer and he guided me through it. There was a small life insurance policy in place, so I did pay his office their costs out of that. The rest of the life insurance I split with my brother.
My brother died in 2010 and left a dead of credit card of $10,000. Those people harass me for one week after I told him he had passed away and they said they wanted to know if you left any money or if he had any inheritance and I said that's none of your business I said his name was on the credit card alone and nobody else was on it with him so they kept harassing me all week long about getting the money and paying off the debt.
They're trying to get me for my brother's debt, but i'm not gonna pay. The minute you respond to them its your debt. I got news for them I'm not paying them one thin dime
Are you a co-signer on his debt? If not, then you’re not responsible for his debt, if you are then they will come after you! He explained that in the video.
@sharp3552 Not a co signer. But my attorney told me that if you talk to the dept collector, and tell them you will make a payment.Then it becomes your debt.
Any debts past the state statute of limitations bars filing a lawsuit to collect a debt, and if they do file a lawsuit, it's going to be a violation of the FDCPA and the state law on collections.
It may be illegal to harass relatives of the deceased for money they owed, but it is common for creditors to call them, and sometimes outright threaten them with lockup, if they don't pay.
Well if they threaten someone to be locked up, that's a violation of federal law. It's against the Fair Debt Collections Practices Act, so sue the one who made the illegal threat.
@@TimberPickle by law the lender is not allowed to discriminate based on age when giving loans. They just count it as a cost of doing business and pass the costs onto everyone else.
My Dad died 20 months ago. Today my Mom got a collection letter about a credit card bill. I know there was no debt. He had two cards and both were paid and they were sent death certificates. Mom was not on the card, they can F Off
Great sound advice you answered all my questions and so I subscribed even though this video is three years old you explained all my questions. Thank you.
I’m a 68 year old woman and I lived with my divorced son. He died in December of 2021 and he had no insurance and he owned nothing. I am still living in his house and paying his mortgage. We didn’t put a death notice out, I didn’t know we were supposed to. I got a certified letter that says my son had a truck repossessed in 2013 and it sold at auction in 2013 and they liked $1.600.00 getting all the money The truck didn’t have my name on it and this bank is saying if they don’t get a check from my sons estate in 7 days they will start probate as a creditor or do sale of realty, and I don’t have $1.600.00. My son didn’t have an estate. He owned nothing and he didn’t have any money saved and he wasn’t working when he died. I’m still paying his mortgage. He has a 13 year old daughter who will inherit this house and lot when she’s of age. I have nothing but my 2004 Toyota. Can they do this? I also have stage 4 kidney disease and this is worrying me to death! It was 9 years ago but I didn’t know we were supposed to put a death notice in the paper. I’m in Tennessee. Can you give me some advice? Thank you.
The creditor can seek payment from your son’s estate. They can open a probate to recover. That may also cause concerns for the lender. You need to speak with a local estate planning attorney to discuss your options.
I'm sorry to tell you but if you don't come up with the money they will take hold of the property and they will sell it to get their money it doesn't matter if it's only a small amount of money they will sell that property for that amount of money and then you and the granddaughter will be homeless! I strongly suggest you find a way to other come up with the money or get an attorney and the attorney is going to be expensive more than what the debt is! I'm very sorry for your situation but this is unfortunately the reality and they legally have the law on their side, it's not morally right but it is legal!
Wait…..it’s been 9 years since your son died and they just now sent a certified letter? You really need a lawyer if this is the case. Creditors only have a certain amount of time to collect.
When my father died, one of his creditors called I informed them of his death. They asked about his estate, I said what he left was me. The creditor said how do you plan on paying? I told them I don't, I never signed on the paper work, for that debt. They left me alone.
I was the administrator for my mothers estate. We paid all the bills we knew of from her checking account. We were required to and had to wait 6 months from her death before we could settle her estate to make sure everything was paid. I don't know if we could have gotten away with not paying debts, but, I was instructed to do so.
My mother has been in assistance living for 4 years. 2 years ago I was reciting calls from creditors about her debts. Btw, I have not lived or had anything to do with her or her finances for 30 years. I also have 3 younger sisters. One who paid her bills when her dementia got bad. Basically utilities and rent. She had no assets. There is nothing for creditors to take from her. Except for. SS. Eventhough I'm not wealthy, I am doing better than my sisters. The last call I received, I got mad. Because I told them she has dementia and lives in a nursing home and I have nothing to do with her, so stop bothering me. I got real mad the next time and told them she died. I'm not her next of kin. Haven't been contacted since.
Unsecured debt (student loans and credit cards) dies with you. There is no asset tied to the debt. They write that off. If you die and you have debt on wealth and assets that can be seized or foreclosed, your heirs must make good on that or lose the assets to the creditor.
...the ones who are owed would then be responsible as they would be the ones to eat the financial burden under your scenario. Someone always takes the hit.
@@ryanwalters1682That's the risk you take extending debt to people who could die at any minute. They should take the hit. Just like when you buy car "insurance" but it's actually just coverage. Insurance would be you betting the insurance company that you will end up having to file a claim that will cost the insurance company more to pay out than you've paid them in order to make you whole again. Instead they get to decide what to cover, and should they decide you did something that forfeits coverage then you're most likely not in any position to combat that determination, and lose out on what you paid them and being made whole again.
I recently had a father who passed away at the age of 48. He was not married. Me and my 3 other siblings were his only family. I am a 20 year old student at Michigan State, my sister is 21 and my other 2 siblings are only 13 and 16, since they are minors we are leaving them out of the hard stuff. We are all splitting everything equally among the 4 of us. He had a life insurance, but a minimal retirement account. He was not very vocal about what he had for debts but after hiuse digging and online research we have found some things. We know there were student loan debts and medical bills lingering around. We know he had a mortgage and he had a car payment. He has a decent amount of vehicles/ toys on his 10 acre property. We also discovered that there was IRS debt and that is what worried us. Will that IRS debt go to the primary benificiary? (which was the oldest of us that we would agree to pay with life insurance) or is that gone too? We have had a lot of peolle tell us that we as his survivors, would take over that IRS debt. Also is it possible to pay the rest of the mortgage and keep the property? Thank you.
My father also passed away at 48 and had $20k in credit card debt and a mortgage on his house. He had a pension that was divided between 3 siblings. We had to hire an estate attorney. The attorney posted a notice in all major news papers to creditors that they had 90 days to file a claim on the estate and if they didn’t file a claim with the estate the debt wouldn’t be paid. There was no will, we sold off all my fathers personal belongings, motorcycles, musical instruments, photography equipment (he was a photographer for the Rocky Mtn News) and sold the house to settle his debts, $10k total with $5k for attorney fees and the remaining $30k was divided equally among us 3 siblings. I was the executor of my father’s estate and it’s quite hard emotionally to go through all of this, I was finally able to grieve a year later. This was in the 80’s.
My brother died owing no one. I padlocked every access to his house and screwed all doors and windows closed except one. Vandals broke in, lit a fire. I find out three years later when the county forces me to drop 15 grand to have the house demolished because it is a safety hazard. No notification from the fire department. NOTHING.
@DependsWhatDay The house has property, and property taxes every year. Did you pay the taxes for the house. Or was it outta sight outta mind. Thing... I can't understand that you just boarding up the house and left it. 99% would have sold the house Fast.
Question: My wife has a lot of credit card debt. We both have our names on a condo unit mortgage. If she dies, can the creditors/lenders put a lien on the condo and take it from me, the surviving husband, if she dies and I do not pay her credit card debt?
When my mother passed, years ago, I settled her estate over 6 months. More than a year later, we were still getting medical bills from doctors that we had never heard of. I don't think they expected to get paid, they just wanted the tax write-off. It's somewhat of a scam.
If someone owes you a legitimate debt and it remains unpaid, you can and should count it as “bad debt” against your bottom line. You should also send them a 1099 to make them liable for the tax on it, since it legally constitutes income on their part.
@@davidrobertson797 If a bill is sent, for the first time, more than a year after services were supposedly rendered, and the estate was closed...it's just an attempt to reduce income for tax purposes by the biller.
In the country I live in now, the living partner and children IF they accept the terms of a will they will also inherit the debt that might exist. So having researched about wills and what is written in the will MUST BE HONORED. SO THEREFORE I HAVE LEFT MY ESTATE ASSETS TO WIFE AND CHILD AND MY DEBT TO TWO POLITICAL PARTIES WHO HAVE SCREWED WITH THE LIVES OF THE PUBLIC. I HOPE THEY ENJOY PAYING IT.
When my dad died there was an ambulance bill. The collectors went after me because I have the same name! I went back and forth on this for several years. I told the agent to f off and try to attach collections to me. Ruined my credit for 7 years!
@Asidebar Not clear! I always thought CC being unsecured died w you but many attr say CC co.s can go to yr estate to get paid but as usual there are exceptions like life ins but I wonder if remainder of a family trust principal due the wife upon husband's death or bank "Pay on Death" accts can be gone after by CC co.s upon debtors death?
What if the assets are in a living trust and they only hold personal debt that is not a part of the trust? Can anything in the living trust to be touched?
@ let me elaborate where my confusion comes from by being more specific. John smith passes away and has 5 children. His home, vehicles, stocks and other assets are owned by the living trust of John smith, and his children are the beneficiaries. John smith also has 120k of various debt. My question was if the creditors of John smith can claim anything in the living trust of John smith is owed to settle a debt, despite being a part of the trust. After the responses it feels like the answer is no
If you're on Medicaid, I've seen the State come in & take it all to compensate what the State has paid out in medical benefits to the dead person while living.
For Medicaid, you are an indigent and Medicaid is Welfare. If the Medicaid recipient hid assets and defrauded the system, as a taxpayer who funds Medicaid, I would want them to claw back hidden assets. 12 thumbs up is scary, because they are 12 others who are ignorant of an important civil matter.
@@tonymanero5544 The elderly on SSA & Medicare can in many cases also qualify for medicaid as well. The 2 most common cases is #1 if thier total income & assets are at or bellow the Medicaid cut off, #2 If they go into a nursing home & the costs exceeds thier income. In the second case Medicaid is use to pay the nursing home.
It doesn’t matter who did the estate planning? It depends on the state you’re in most states just write it off. I always tell them. Why don’t you put it on their credit
I reviewed papers sent to a friend that seemed very much like, done his mother cut him out of HER will, he could not inherit any money given to her to distribute to him by his great aunt when she passed, BUT! He could, if he didn't sign off entirely, inherit the tax liability as though he had received the money... All in all, he would have had to pay $21k in order to inherit about $14k. He rejected the deal and remained out of both wills...
Yes. I live in a community property state. It does not matter if you are married and your spouse has her own separate employment, her own bank account, files her own taxes, borrows under only her name, if it is a necessity of life, the surviving spouse is liable. It gets even more hinky in California. There is a provision in the probate code that comes from Spanish law. A parent is response for a child. A friend had some money. Her son was in his 50s. Son was irresponsible, etc. He hired a lawyer to sue his mother for support. Fortunately, he became so unruly at whatever the hearing, that the hearing was stopped to be rescheduled. The mother fled the state! So no order was made. However, the judge could have fashioned a support order that would make the mother responsible for some support debts if her son died.
I think you misunderstood whatever California law says. A parent CAN be responsible, by specific law, for the acts of MINOR children, but no adult is ever responsible another adult, except in specific circumstances like Employer’s civil responsibility for acts of Employees. A son is his 50’s would never be imputed to his parents for criminal or civil or debts. Unless a parent signed an agreement like a student loan, finance agreement, etc. But no state would hold a parent responsible for acts of adult children.
The house goes into probate. The house can be sold but if the children want to keep the house, they can pay off the debts out of their own pockets to any debtors who make a claim against the estate.
Let’s talk about how we can relieve debt . If every person could get payment or royalties from our personal data from 3rd party faceless companies called entities whom make massive profits by selling us. Working for a wage would be an option not a requirement.
Are the married? Do they live in a joint asset state? It is my understanding that of they are married the spouse is responsible? A parent or a sibling is not.
My husband passed away in July 2015. Leaving me a substantial tax debt with the state of California $57,000. But I get retirement benefits from SSA and structured pension benefits from 2 companies, monthly. Question: His trust fund is worth millions of dollars, which is not given to me, why? My sons won’t be getting it either after I pass! Is there anything that I can do to release the funds from my husband’s pension? Thank you! Cynthia
It is shameful the way these life insurance companies run commercials, getting people to buy their insurance so their family “won’t be stuck with their debt”. Unless a family member is a co-signer on a loan or a credit card is in both their name and the deceased’s name, the only people who will be “stuck with their debt” are their creditors.
When my Ma passed away, we got a letter from her credit card company. It said "as beneficiary's", we (adult children) were responsible for her debt. It was under 100 bucks. I never heard back from them.
Yes, co-signers of are responsible for paying off the loans. That's how many retired senior citizens find themselves with credit ruined and are held responsible for paying off their children's defaulted college loans.
I'm the administrator of the Estate but unfortunately the property is in foreclosure. Am I responsible for the reminding debt and will the foreclosure go on my credit? There is a 50% deed in my name and its a reverse mortgage foreclosure
Good to know but fitting justice would be if my 3 ingrates did get stuck with them. Perhaps even my Ex. Oh well I will be gone and uninterested in the issue.
My Mother in law died. She had my wife as a beneficiary. After funeral arrangements were made there was 3000 dollars left over. That was taken from us and given to Medicaid. So what do you mean when you say we aren't responsible for her debt?
You misunderstood what he said. the $3,000 left was your MIL money and part of her assets. Her assets $3,000.00 is not taken from you it was her money.
I had an uncle whom a doctor told him he had 6 months to live. Dr gave him the bill and my uncle says I can't pay that. So the dr says ok i will give you another 6 months then.
If a beneficiary is named, that asset (usually stuff like life insurance, bank accounts, etc.) doesn't become part of the estate. KY doesn't allow 'transfer upon death' deeds to real estate.
You know, those stacks of big thin cheap paper that had words printed in ink all over them from back in the days when there were telephones in tall narrow booths on street corners and listening booths in record stores. The "good old days."
I think that a) indeed a person who signed (or co-signed) a debt is the only one responsible for it. That is, unless it can be demonstrated that there were people in cahoots to ‘get’ that person’s assets in order to prevent them going to the rightful claimant. So if your uncle Joe ran up $50K in credit card debt in his final two years of life, but he gave you a “one time gift” of $30K a month before died, that money is not rightfully yours. And if it can be proved that you and he conspired to have you get that money, it’s wire fraud felony. While he may be gone, you the co-conspirator are subject to prosecution.
Isn't that why the person that took out the loan gets insurance on the loan so that it's covered I always took insurance on a loan and paid extra invade I was unable to work because of an accidental injury or death happened the loan would be paid in full
@Asidebar I always took the insurance policy out what good would a life insurance policy do if I just become disabled and able to work for just say several months or even permanent don't you have to die for a life insurance policy to do any good paying off your debt
My husband died, he had one credit card in his name only. I was an authorized user of the card. They tell me I am not responsible for his debt. They are going after his estate. We own everything else jointly. Can they put a lien against our house and am I responsible to pay this debt off?
My mother fell for a Nigerian scam artist. She was sending all her money somewhere because they told her she had millions waiting. My mother couldn’t even use a computer an would beg me all the time to help her get her money. They kept calling after her death threatening me. They kept on for about two months before giving up.
Not if it was in her own name and you didn’t use the card. My son lost his wife in CA, a community property state. He reported to all 3 credit reporting agencies and any cards in her name only were not the responsibility of my son and credit card companies sent letters stating that.
if sister stole file a police report and have her arrested. Have the State Attorney file charges on her and get the court to order her to pay restitution. Where you an heir to our father's estate? If so you should have filed a proof of claim against the estate.
My brother died last week. All he owns is a bag of old cloths. I've never signed anything ever. He has a tax debt. I am the only surviving family member. Do i have to pay that debt? Thanks
They tried to insist that I pay for my mother-in-laws medical bills. My wife, her daughter had already died from renal failure. She (my mother-in-law), lived with us for around 8 years. She was NEVER my dependent. They said "somebody has to pay these bills!" I told them, "she has a bed, a chair, knitting supplies, a knitting machine and her clothes in her room... come pick them up". I never heard from them again!
The ONE & ONLY person responsible for anyone's debt, is the person who signed the papers to acquire that debt! Thus, when I die, my children are NOT RESPONSIBLE for ANY debts that I have incurred. My "Estate" is responsible to pay any remaining debt, and if my "Estate" does not have sufficient means to pay that debt, the "debtor" will just have to file that debt as a "charge off."
As a son of attorney, the only way they can sue you for the other person debt is if you both own the property together or you both have the same account held jointly together. Then they can sue for the other person’s half of their assets
But everything else you said is spot on. You know exactly what you’re talking about and doing the right thing by your children and family
er last years. She lived in her mother’s home, which was put in her disabled brother’s name, after many profitable home sales, before moving to Fla. They sold the house, kept the car, ran up credit cards, etc. and have learned to take full advantage.
You are the "debtor". You mean the "creditor".
Creditors tried to make me pay when my parents passed I did not respond case closed they stopped harassing me .
I was the executor of my mothers estate. There was a will. Our state requires every estate go through probate court. The Probate Judge guided me through all the filing and preparation to distribute her considerable non property assets. The death was published for 30 days in the County Register newspaper. After that 30 day time period, the judge signed off on the estate. She told me no claims were filed and if anyone comes forward beginning today, ignore the claim. The window to collect closed forever. Months later, bills started coming in for hospital care, ambulance services and various emergency room doctors and services, totaling almost $50,000. Too late boys. I save all bills in her file but disregard them.
After my wife died, the bill collectors started calling.
I told them she died and left no estate, not even an insurance policy.
They never called back.
You're lucky
Same here when my parents died. They were really mouthy until I told them they had died and they were just going to have to write it off. I sent death certificates. Never heard from them again.
I just moved with no return address.
I went thru this & all they asked was for me to send the death certificate & a copy of the bill,charged off no problem.Some of them even took my word for it,no paperwork required
Life insurance is not part of the estate unless the estate was a named beneficiary.
Good information. When my dad died, his only debt (that I know of), was about $100 on a credit card. I called to cancel the card and asked about paying the balance and they said nope, no need.
You might want to get them to send that to you in writing and check the account again to make sure it was closed and didn't get sent to collections.
@ Since Dad died in 2011, I think it’s pretty safe now.
$100 is not a debt.
@@DragonNinja4680 No need to do that, son is not legally responsible for his dad's death. The only thing the bank can do is file a climate against the estate.
Years ago when my BIL died, we received a bill in the mail for his huge and long unpaid electric bill. So Cal Edison harassed us relentlessly even though we had NEVER lived with our BIL and our names weren’t on his bills in any way. We sought the advice of an attorney and even with a letter from him, the electric company did not back down. Their assertion; my BIL had the same last name as us and he was a family member. Unbelievable. And so shady in our opinion.
If you have an electricity ombudsman you can file a complaint with them about your power company and they will read the riot act to them and most likely fine them and if this is a systemic issue the power company could be up for paying compensation to everyone they harrassed and collected money from in the same circumstance.
BIL= Brother in law?
I know it is hindsight, you should have kept documentation of all contact and filed a lawsuit for unlawfully attempting to collect and harassment.
well, it is california!
@ - very interesting information. I wish I had known this at the time, but unfortunately the situation occurred more than 10 years ago. Thank you though.
In america, the debt is the responsibility of the deceased persons estate. So the debts get paid from any assets remaining (houses cars, gold coins cash stocks bonds etc.). If after the assets are used, there is still debt, the creditors are just stuck. Debt cannot be forced on a third party who is not a signatory to the debt.
it was explained in the video
It can under certain circumstances. Some bequeaths are considered personal items (most jewellery, furniture and keepsakes), but some are considered assets (cars, homes…). If you are a beneficiary and are bequeathed an asset from a person with debt, you have to be careful because if you accept it, you may assume some or all of the debt.
So the estate needs to be in another's name one min before death, but the debts stay wdeceased
@ not quite that easy. Significant debt is usually tied to assets as collateral. It doesn’t matter whether the asset is property, a vehicles, stocks, jewellery, the lien stays with it until it’s cleared no matter who owns it.
In the UK your debts die with you. The only exception is if the debt was in joint names where the survivor could be liable. Read the small print to be sure.
@MENSA.lady2 In Canada, it's common to buy mortgage insurance. It's basically a form of life insurance where the mortgage holder is named as the beneficiary. With this, if the main bread winner passes away or is permanently disabled, the mortgage is immediately paid in full.
Another exception is a debt secured on property- could be a house or vehicle etc. Even if left to you in a will, the loan co have the right to recover either the property or the money- can get messy.
in some countries, the debt gets passed on to descendants. e.g. South Korea. and their government wonders why the birthrate is so low...
@@nigelbarton8350 In most places, it's irrelevant whether the debt is secured or not, all debts must be paid before any assets are distributed.
I just want to know why I'm responsible for some student loan for someone I've never heard of?
It is Vote Buying by the Dems. Govt student loans should be abolished.
Because Joe Biden and the Democrats love to buy votes.
That's a Democrat politicians way of getting votes.
Predatory lenders is why. They make the rules and are intent on dismantling the education system entirely and profitting from it. Corporate welfare is killing you too but you cannot mouth those words. Can you ?
For the same reason we're responsible for subsidizing other countries healthcare systems and military defense.
It's all money laundering.
It's funny that the debt still floats around when the person receiving benefits passes away, the benefits are immediately cut off.
We were the only related survivors to my husband’s aunt when she died at 93, having lived in an assisted living complex for 5 years with very minimal additional assets. The demand for those units was very high…and despite the fact that her apt. was instantly rented within 5 days of her passing….the corporate owners of the complex demanded that we pay off the remaining 8 months of her lease. There was no wording in the lease to support this and she was the only signor of the document. I was so steamed at this corporate bs that I told the company to leave us the eF alone and to go get their money from a corpse.
the most they could have demanded of her if she had skipped the lease (which obviously she didn't do) was 5 day's worth of rent, pro-rated. but with her death, cue the "you get nothing!" line from Willy Wonka. glad you stood your ground
My parents both died a day apart in the mid 80's. This video pretty much summed up what our experience was. I was the executor of the will. They were heavily in debt. The house was foreclosed on 90 days after their deaths. One of the guys from the mortgage company tried to harass me, I just hung the phone up. In the meantime, I had to liquidate assets, there wasn't much of value to liquidate. I paid what debtors I could and sent letters of explanation to the rest. Fortunately, my dad was good friends with a lawyer and he guided me through it. There was a small life insurance policy in place, so I did pay his office their costs out of that. The rest of the life insurance I split with my brother.
Man hell's not I'm paying for my my father's debt.
Made his choices in life and I will not pay for that.
Same, I will disclaimed all inherentance. Because it is all Debt.
You don't have to pay his debt, but you won't get anything of his until the debt is paid from his assets
@@islesofshoals3551 thats why all your assets should be things that can be moved from house to house.
@@Native722 does your father own a home?
My brother died in 2010 and left a dead of credit card of $10,000. Those people harass me for one week after I told him he had passed away and they said they wanted to know if you left any money or if he had any inheritance and I said that's none of your business I said his name was on the credit card alone and nobody else was on it with him so they kept harassing me all week long about getting the money and paying off the debt.
They're trying to get me for my brother's debt, but i'm not gonna pay. The minute you respond to them its your debt. I got news for them I'm not paying them one thin dime
He just explained it in the video.
Are you a co-signer on his debt? If not, then you’re not responsible for his debt, if you are then they will come after you! He explained that in the video.
@sharp3552 Not a co signer. But my attorney told me that if you talk to the dept collector, and tell them you will make a payment.Then it becomes your debt.
@@mistervacation23 …so you became a co-signer by way of verbal contract? I would let your attorney talk to them from here on out!🤫
@sharp3552 10-4
The “Very limited time frame” is 8 months. You can’t see a dime of ANY money from selling the house or anything until that time frame has expired.
Any debts past the state statute of limitations bars filing a lawsuit to collect a debt, and if they do file a lawsuit, it's going to be a violation of the FDCPA and the state law on collections.
It may be illegal to harass relatives of the deceased for money they owed, but it is common for creditors to call them, and sometimes outright threaten them with lockup, if they don't pay.
Well if they threaten someone to be locked up, that's a violation of federal law. It's against the Fair Debt Collections Practices Act, so sue the one who made the illegal threat.
@str84ward89 hard to prove, and harder to enforce if they are out of country
@ Those are good points!
@@radolfkalis4041 record any call from debt collectors. Save any answering machine messages from them.
But there are no debitors prisons either so tell them to charge it to crime.......BEAUSE CRIME DOESN'T PAY. Either.😁
It goes with the Dead person, unless there's a co sign.
What if the person is an authorized user of the card (not the same as a cosigner)?
Makes me wonder how many 89 year olds get approved for car loans.
@@TimberPickle by law the lender is not allowed to discriminate based on age when giving loans. They just count it as a cost of doing business and pass the costs onto everyone else.
My Dad died 20 months ago. Today my Mom got a collection letter about a credit card bill. I know there was no debt. He had two cards and both were paid and they were sent death certificates. Mom was not on the card, they can F Off
Credit cards are unsecured debt. No worry.
@@maggiemmoore Unsecured debt DOES NOT mean it doesn't need to be paid. It still needs to be paid before any assets can be distributed.
Tell your mother to not talk to debt collectors
I have Power of Attorney so she had me handle it. I told them to take a hike.
Holy pack all that into a 3 min video Batman!
Wow. Thanks for the information packed concise video.
Great sound advice you answered all my questions and so I subscribed even though this video is three years old you explained all my questions. Thank you.
Thank you for the information and valuable knowledge.
Great info, Robert. I'm in Canada and suspect the same kinds of rules apply.
I’m a 68 year old woman and I lived with my divorced son. He died in December of 2021 and he had no insurance and he owned nothing. I am still living in his house and paying his mortgage. We didn’t put a death notice out, I didn’t know we were supposed to. I got a certified letter that says my son had a truck repossessed in 2013 and it sold at auction in 2013 and they liked $1.600.00 getting all the money The truck didn’t have my name on it and this bank is saying if they don’t get a check from my sons estate in 7 days they will start probate as a creditor or do sale of realty, and I don’t have $1.600.00. My son didn’t have an estate. He owned nothing and he didn’t have any money saved and he wasn’t working when he died. I’m still paying his mortgage. He has a 13 year old daughter who will inherit this house and lot when she’s of age. I have nothing but my 2004 Toyota. Can they do this? I also have stage 4 kidney disease and this is worrying me to death! It was 9 years ago but I didn’t know we were supposed to put a death notice in the paper. I’m in Tennessee. Can you give me some advice? Thank you.
The creditor can seek payment from your son’s estate. They can open a probate to recover. That may also cause concerns for the lender. You need to speak with a local estate planning attorney to discuss your options.
Because he owned that house he had property they can put a lien on… did he put his daughters name on the mortgage?
I don’t think the death of your son is supposed to make his daughter homeless. I would definitely talk to an attorney.
I'm sorry to tell you but if you don't come up with the money they will take hold of the property and they will sell it to get their money it doesn't matter if it's only a small amount of money they will sell that property for that amount of money and then you and the granddaughter will be homeless! I strongly suggest you find a way to other come up with the money or get an attorney and the attorney is going to be expensive more than what the debt is! I'm very sorry for your situation but this is unfortunately the reality and they legally have the law on their side, it's not morally right but it is legal!
Wait…..it’s been 9 years since your son died and they just now sent a certified letter?
You really need a lawyer if this is the case. Creditors only have a certain amount of time to collect.
When my father died, one of his creditors called I informed them of his death. They asked about his estate, I said what he left was me. The creditor said how do you plan on paying? I told them I don't, I never signed on the paper work, for that debt. They left me alone.
I was the administrator for my mothers estate. We paid all the bills we knew of from her checking account. We were required to and had to wait 6 months from her death before we could settle her estate to make sure everything was paid. I don't know if we could have gotten away with not paying debts, but, I was instructed to do so.
They will bring you back to life just long enough to pay your debt...
My mother has been in assistance living for 4 years. 2 years ago I was reciting calls from creditors about her debts. Btw, I have not lived or had anything to do with her or her finances for 30 years. I also have 3 younger sisters. One who paid her bills when her dementia got bad. Basically utilities and rent. She had no assets. There is nothing for creditors to take from her. Except for. SS. Eventhough I'm not wealthy, I am doing better than my sisters. The last call I received, I got mad. Because I told them she has dementia and lives in a nursing home and I have nothing to do with her, so stop bothering me. I got real mad the next time and told them she died. I'm not her next of kin. Haven't been contacted since.
Unsecured debt (student loans and credit cards) dies with you. There is no asset tied to the debt. They write that off. If you die and you have debt on wealth and assets that can be seized or foreclosed, your heirs must make good on that or lose the assets to the creditor.
No one should be responsible for their debt period. The debt died when they died.
...the ones who are owed would then be responsible as they would be the ones to eat the financial burden under your scenario. Someone always takes the hit.
I understand that credit card debt is unsecured debt and does not have to be paid by executor. Is that correct?
@@maggiemmooreLaws vary by locale, but generally debts have to be paid before any inheritance is paid out.
@@ryanwalters1682 that’s the problem with lending money. If you’re not prepared to take the risk, don’t lend money.
@@ryanwalters1682That's the risk you take extending debt to people who could die at any minute.
They should take the hit.
Just like when you buy car "insurance" but it's actually just coverage.
Insurance would be you betting the insurance company that you will end up having to file a claim that will cost the insurance company more to pay out than you've paid them in order to make you whole again.
Instead they get to decide what to cover, and should they decide you did something that forfeits coverage then you're most likely not in any position to combat that determination, and lose out on what you paid them and being made whole again.
I recently had a father who passed away at the age of 48. He was not married. Me and my 3 other siblings were his only family. I am a 20 year old student at Michigan State, my sister is 21 and my other 2 siblings are only 13 and 16, since they are minors we are leaving them out of the hard stuff. We are all splitting everything equally among the 4 of us. He had a life insurance, but a minimal retirement account. He was not very vocal about what he had for debts but after hiuse digging and online research we have found some things. We know there were student loan debts and medical bills lingering around. We know he had a mortgage and he had a car payment. He has a decent amount of vehicles/ toys on his 10 acre property. We also discovered that there was IRS debt and that is what worried us. Will that IRS debt go to the primary benificiary? (which was the oldest of us that we would agree to pay with life insurance) or is that gone too? We have had a lot of peolle tell us that we as his survivors, would take over that IRS debt. Also is it possible to pay the rest of the mortgage and keep the property? Thank you.
Hello, we have the same situation did you guys went on probate? Did they let you guys pay for his debt?!
Please consult with an estate attorney.
My father also passed away at 48 and had $20k in credit card debt and a mortgage on his house. He had a pension that was divided between 3 siblings. We had to hire an estate attorney. The attorney posted a notice in all major news papers to creditors that they had 90 days to file a claim on the estate and if they didn’t file a claim with the estate the debt wouldn’t be paid. There was no will, we sold off all my fathers personal belongings, motorcycles, musical instruments, photography equipment (he was a photographer for the Rocky Mtn News) and sold the house to settle his debts, $10k total with $5k for attorney fees and the remaining $30k was divided equally among us 3 siblings. I was the executor of my father’s estate and it’s quite hard emotionally to go through all of this, I was finally able to grieve a year later. This was in the 80’s.
Attorneys and taxes get their money FIRST. You HAVE to pay all back taxes. Just went through it. Not much left
My brother died owing no one. I padlocked every access to his house and screwed all doors and windows closed except one. Vandals broke in, lit a fire. I find out three years later when the county forces me to drop 15 grand to have the house demolished because it is a safety hazard. No notification from the fire department. NOTHING.
How would the FD know to notify you?
You should check on that property every 6 days regardless. If you don't bad crap happens. Best to sell it fast after he is deceased.
@ That would be a great idea if I didn’t live hundreds of miles away.
@@DependsWhatDay A real estate agent could have handled all that for you. Remax is everywhere.
@DependsWhatDay
The house has property, and property taxes every year.
Did you pay the taxes for the house. Or was it outta sight outta mind. Thing...
I can't understand that you just boarding up the house and left it.
99% would have sold the house
Fast.
Question: My wife has a lot of credit card debt. We both have our names on a condo unit mortgage. If she dies, can the creditors/lenders put a lien on the condo and take it from me, the surviving husband, if she dies and I do not pay her credit card debt?
When my mother passed, years ago, I settled her estate over 6 months. More than a year later, we were still getting medical bills from doctors that we had never heard of. I don't think they expected to get paid, they just wanted the tax write-off. It's somewhat of a scam.
If someone owes you a legitimate debt and it remains unpaid, you can and should count it as “bad debt” against your bottom line. You should also send them a 1099 to make them liable for the tax on it, since it legally constitutes income on their part.
@@davidrobertson797 If a bill is sent, for the first time, more than a year after services were supposedly rendered, and the estate was closed...it's just an attempt to reduce income for tax purposes by the biller.
Move. That’s what I did. I was bothered with letters looking for debt payments constantly. I moved five years ago and they all stopped.
In the country I live in now, the living partner and children IF they accept the terms of a will they will also inherit the debt that might exist. So having researched about wills and what is written in the will MUST BE HONORED. SO THEREFORE I HAVE LEFT MY ESTATE ASSETS TO WIFE AND CHILD AND MY DEBT TO TWO POLITICAL PARTIES WHO HAVE SCREWED WITH THE LIVES OF THE PUBLIC. I HOPE THEY ENJOY PAYING IT.
If one of the children is the guardian at the time of death are they responsible?
When my dad died there was an ambulance bill. The collectors went after me because I have the same name! I went back and forth on this for several years. I told the agent to f off and try to attach collections to me. Ruined my credit for 7 years!
What about credit card debt which is unsecured. Can credit card co. go after dead persons assets - hse sale, "pay on death" accts, bank accts etc
Listen to the video!
@Asidebar Not clear! I always thought CC being unsecured died w you but many attr say CC co.s can go to yr estate to get paid but as usual there are exceptions like life ins but I wonder if remainder of a family trust principal due the wife upon husband's death or bank "Pay on Death" accts can be gone after by CC co.s upon debtors death?
What if the assets are in a living trust and they only hold personal debt that is not a part of the trust? Can anything in the living trust to be touched?
Great question.
A trust is a separate legal entity. The trust is not obligated to pay personal debts.
@@davidrobertson797 thank you!
What davidroberts said seems rational, because the personal debt is held by X person and not by the Trust which is a legal tax entity.
@ let me elaborate where my confusion comes from by being more specific. John smith passes away and has 5 children. His home, vehicles, stocks and other assets are owned by the living trust of John smith, and his children are the beneficiaries. John smith also has 120k of various debt. My question was if the creditors of John smith can claim anything in the living trust of John smith is owed to settle a debt, despite being a part of the trust. After the responses it feels like the answer is no
If you're on Medicaid, I've seen the State come in & take it all to compensate what the State has paid out in medical benefits to the dead person while living.
True
Yes, they will take real estate.
For Medicaid, you are an indigent and Medicaid is Welfare. If the Medicaid recipient hid assets and defrauded the system, as a taxpayer who funds Medicaid, I would want them to claw back hidden assets. 12 thumbs up is scary, because they are 12 others who are ignorant of an important civil matter.
@@tonymanero5544 The elderly on SSA & Medicare can in many cases also qualify for medicaid as well. The 2 most common cases is #1 if thier total income & assets are at or bellow the Medicaid cut off, #2 If they go into a nursing home & the costs exceeds thier income. In the second case Medicaid is use to pay the nursing home.
It doesn’t matter who did the estate planning? It depends on the state you’re in most states just write it off. I always tell them. Why don’t you put it on their credit
Awesome..thank you
I reviewed papers sent to a friend that seemed very much like, done his mother cut him out of HER will, he could not inherit any money given to her to distribute to him by his great aunt when she passed, BUT! He could, if he didn't sign off entirely, inherit the tax liability as though he had received the money...
All in all, he would have had to pay $21k in order to inherit about $14k.
He rejected the deal and remained out of both wills...
Laws can vary significantly by locale, you should state your locale at the beginning of your videos.
And that's why my house is my name only!
Yes. I live in a community property state. It does not matter if you are married and your spouse has her own separate employment, her own bank account, files her own taxes, borrows under only her name, if it is a necessity of life, the surviving spouse is liable.
It gets even more hinky in California. There is a provision in the probate code that comes from Spanish law. A parent is response for a child. A friend had some money. Her son was in his 50s. Son was irresponsible, etc. He hired a lawyer to sue his mother for support. Fortunately, he became so unruly at whatever the hearing, that the hearing was stopped to be rescheduled. The mother fled the state! So no order was made. However, the judge could have fashioned a support order that would make the mother responsible for some support debts if her son died.
I think you misunderstood whatever California law says. A parent CAN be responsible, by specific law, for the acts of MINOR children, but no adult is ever responsible another adult, except in specific circumstances like Employer’s civil responsibility for acts of Employees. A son is his 50’s would never be imputed to his parents for criminal or civil or debts. Unless a parent signed an agreement like a student loan, finance agreement, etc. But no state would hold a parent responsible for acts of adult children.
What if the decedent had a house but no money and had debts? Do his children have to sell the house to pay off the debts?
Hi Teresa, how's your day going with you?
Possibly, generally debts have to be paid before any inheritance.
The answer is probably yes
The house goes into probate. The house can be sold but if the children want to keep the house, they can pay off the debts out of their own pockets to any debtors who make a claim against the estate.
The house is an asset of the estate that can be liquidated to pay any outstanding debts of the estate.
I have substantial life insurance to cover any debt. I have no loans or credit card debt. My home and properties are paid for. 😊
Let’s talk about how we can relieve debt . If every person could get payment or royalties from our personal data from 3rd party faceless companies called entities whom make massive profits by selling us. Working for a wage would be an option not a requirement.
Are the married? Do they live in a joint asset state? It is my understanding that of they are married the spouse is responsible? A parent or a sibling is not.
So what country are you talking about?
The state.the state takes your money when you have no beneficiary. The state should be responsible for paying off all my debt
My husband passed away in July 2015. Leaving me a substantial tax debt with the state of California $57,000. But I get retirement benefits from SSA and structured pension benefits from 2 companies, monthly. Question: His trust fund is worth millions of dollars, which is not given to me, why? My sons won’t be getting it either after I pass! Is there anything that I can do to release the funds from my husband’s pension? Thank you! Cynthia
You need an attorney
It is shameful the way these life insurance companies run commercials, getting people to buy their insurance so their family “won’t be stuck with their debt”. Unless a family member is a co-signer on a loan or a credit card is in both their name and the deceased’s name, the only people who will be “stuck with their debt” are their creditors.
Offering credit is a risk taken. The creditor should assume that risk. But that is fanciful thinking on my part.
When my Ma passed away, we got a letter from her credit card company. It said "as beneficiary's", we (adult children) were responsible for her debt. It was under 100 bucks. I never heard back from them.
I met a couple who cosigned for loans for their son. The son unalived himself and his parents were having to pay off the loans.
Yes, co-signers of are responsible for paying off the loans. That's how many retired senior citizens find themselves with credit ruined and are held responsible for paying off their children's defaulted college loans.
Whoever loaned them the money took the risk. You rolls the dice and live with the results
I'm the administrator of the Estate but unfortunately the property is in foreclosure. Am I responsible for the reminding debt and will the foreclosure go on my credit? There is a 50% deed in my name and its a reverse mortgage foreclosure
If you are joint on the loan then yes you will be responsible and it will go on your credit.
No didn't you listen the the attorney in the video?
Good to know but fitting justice would be if my 3 ingrates did get stuck with them. Perhaps even my Ex. Oh well I will be gone and uninterested in the issue.
My Mother in law died. She had my wife as a beneficiary. After funeral arrangements were made there was 3000 dollars left over. That was taken from us and given to Medicaid. So what do you mean when you say we aren't responsible for her debt?
You misunderstood what he said. the $3,000 left was your MIL money and part of her assets. Her assets $3,000.00 is not taken from you it was her money.
What happens when the decedent held property, whether real or other, in trust or in an LLC? Can creditors go after that or are they barred?
Depends on what your state statutes provide.
Good info😀
I had an uncle whom a doctor told him he had 6 months to live. Dr gave him the bill and my uncle says I can't pay that.
So the dr says ok i will give you another 6 months then.
If a beneficiary is named, that asset (usually stuff like life insurance, bank accounts, etc.) doesn't become part of the estate. KY doesn't allow 'transfer upon death' deeds to real estate.
Dealing with three, yes THREE estates right now 😐
if the person had life insurance. Does the payout of the insurance have to be given to the debt? answered. thanks
insurance payment goes to the beneficiary named in the policy
Please try listening the what the attorney said in this video. It was clearly explained.
His or her estate or spouse, yes. Any other family member, no.
Newspaper? What's a newspaper?
That’s the problem!
You know, those stacks of big thin cheap paper that had words printed in ink all over them from back in the days when there were telephones in tall narrow booths on street corners and listening booths in record stores. The "good old days."
Newspaper is the brand name for toilet paper for mountain folks.
I think that a) indeed a person who signed (or co-signed) a debt is the only one responsible for it. That is, unless it can be demonstrated that there were people in cahoots to ‘get’ that person’s assets in order to prevent them going to the rightful claimant. So if your uncle Joe ran up $50K in credit card debt in his final two years of life, but he gave you a “one time gift” of $30K a month before died, that money is not rightfully yours. And if it can be proved that you and he conspired to have you get that money, it’s wire fraud felony. While he may be gone, you the co-conspirator are subject to prosecution.
Hello a credit card wants money from the estate.. what exactly does that mean
Personal debt of the deceased. The creditor could try to collect from the estate. Is that common? Probably not, but it depends on the level of debt.
Hi Valerie, how's your day going with you?
Isn't credit card debt unsecured debt?
Isn't that why the person that took out the loan gets insurance on the loan so that it's covered I always took insurance on a loan and paid extra invade I was unable to work because of an accidental injury or death happened the loan would be paid in full
Not everyone takes the insurance policy on a loan that is not a good option. Much better to have a life insurance policy.
@Asidebar I always took the insurance policy out what good would a life insurance policy do if I just become disabled and able to work for just say several months or even permanent don't you have to die for a life insurance policy to do any good paying off your debt
ty 4 the heads up
The estate, if any, of the deceased.
My husband died, he had one credit card in his name only. I was an authorized user of the card. They tell me I am not responsible for his debt. They are going after his estate. We own everything else jointly. Can they put a lien against our house and am I responsible to pay this debt off?
Credit card debt is unsecured debt.
Even though unsecured, cred crd co can go after any assets dead person that is cash, bank accts not trusts or life ins proceeds.@maggiemmoore
I would say no one is responsible after the person dies. You never signed on for that.
How does the administrator find out a creditor has filed a claim?
claims have to be submitted through the probate court and probate court will notify the administrator that a claim has been submitted
The creditors have the obligation to inform the administrator
Shit i don't even pay my debts now, why would I pay them after i die?
Ty
Most car loans I've had were insured so the creditor got his money from the insurance company
how could that happen if you still alive?
No one should be responsible if their name isn't on any thing
My mother fell for a Nigerian scam artist. She was sending all her money somewhere because they told her she had millions waiting. My mother couldn’t even use a computer an would beg me all the time to help her get her money. They kept calling after her death threatening me. They kept on for about two months before giving up.
Is husband responsible for deceased wife credit card bill
If the debt was created jointly, then you may be responsible.
Not if it was in her own name and you didn’t use the card. My son lost his wife in CA, a community property state. He reported to all 3 credit reporting agencies and any cards in her name only were not the responsibility of my son and credit card companies sent letters stating that.
My boss died and His family did not want to get involved with his business. I did not got my last pay. How can I claim it.
Check to see if a probate was filed in the county where he lived. If so, you can file a claim as a creditor with the estate.
@@AttorneyRobertFlessas And file within the required time frame of the law.
Well....I'm old, in bad health and totally dirt broke. And any old debts I may have will die with me. That simple.
Nobody.
my dad died and the lawyers said we owe IRS 10k then left us after we paid 2500 now sister wont do anything stole everything and wont share half
if sister stole file a police report and have her arrested. Have the State Attorney file charges on her and get the court to order her to pay restitution. Where you an heir to our father's estate? If so you should have filed a proof of claim against the estate.
@@Asidebar wont because im not in charge and cant be
Any outfit that is owed money will just write it off, as a loss on their taxes.
I'll bet if the debt were unpaid taxes to the government these rules would be very different.
It’s the risk of doing business, an act of God. Rest in Peace.
Nobody should be
Hence if you die a million dollars in debt, you were a million dollars ahead!
My brother died last week. All he owns is a bag of old cloths. I've never signed anything ever. He has a tax debt. I am the only surviving family member. Do i have to pay that debt? Thanks
They would have to sue his estate. If he has nothing, then they get nothing. But, you should check the law in the state where he resided to make sure.
If you listen to what the attorney stated in the video you would not be asking that question.,
@@Asidebar I was frazzled and out of sorts when i reached out for that information. Brother recently passed
S.O.L. Buddy!! Damn, if I'm paying someone else's debt.
Nobody is responsible. Those credit card companies, medical bills, etc just have to eat it.
I live in Texas . I have community property before marriage . They can’t touch it
The estate.
No one.