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Here's what you're responsible for after a loved one's death — plus ways to protect your family's finances We adhere to strict standards of editorial integrity to help you make decisions with ...
In some cases, surviving family members might be responsible for paying certain debts of the deceased. This largely depends on the type of debt and where you live.
Most debt will be settled by your estate after you die. In many cases, the assets in your estate can be taken to pay off outstanding debt. Federal student loans are among the only types of debt to ...
Here's what you're responsible for and what you aren't after a loved one's death When someone loses a loved one, the last thing they want to think about is if any outstanding debts need to be paid ...
“So if you inherit $100,000, you are, in theory, responsible for up to $100,000 of your parent’s debt. In fact, many creditors walk away without filing claims whatsoever.”
Loans without collateral are often a last priority when it comes to paying off your creditors after you die. But family could be responsible, depending on where you live. Learn more in our guide ...
You may be unable to collect the debt if you miss the filing deadline. If in doubt, be sure to contact a lawyer or the probate court where the deceased person lived to learn more about filing a claim.
In some cases, a transfer of debt responsibility upon death is unavoidable. For instance, if you jointly held debts with your loved one, like mortgages or shared credit card accounts, you could be ...