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Some debts can be inherited. It depends on the debt type and which state you live in. ... Many parents make their children authorized users on their account, but this is not the same as a joint ...
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If you are married and have moved out of a community property state since taking on the loan, debt consolidation can protect your spouse from inheriting that debt. Remove any cosigners or joint ...
No child can be forced to account for his or her advancement, but instead he will be excluded from a share in the intestate's estate. The usual judicial view was that any considerable sum of money paid to a child at that child's request is an advancement; thus payment of a son's debts of honour has been held to be an advancement.
Inheritance taxes are paid not by the estate of the deceased, but by the inheritors of the estate. For example, the Kentucky inheritance tax "is a tax on the right to receive property from a decedent's estate; both tax and exemptions are based on the relationship of the beneficiary to the decedent." [52]
If a parent empties their coffers — or inheritance — on debt repayment for children, they might compromise their own financial future. Of course, many parents genuinely want to support their kids.
If a loved one dies and you expect to inherit some money, know that you won't be first in line. You'll receive your due only after creditors are paid, and even they come after categories such as ...
In Mutual Life v.Armstrong (1886), the first American case to consider the issue of whether a slayer could profit from their crime, the US Supreme Court set forth the No Profit theory (the term "No Profit" was coined by legal scholar Adam D. Hansen in an effort to distinguish early common law cases that applied a similar outcome when dealing with slayers), [1] a public policy justification of ...