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Additional Details
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Additional Details
i should have expected answers like these
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WHAT THE HELL | If my parents are in debt...? |
Will I have to pay it off when they pass away? Just found out they are in the hole like $200,000. >:I
Additional Details
Im a teenager at the moment... if that makes a difference... |
 |
 
mark
 |
when your parents pass away , an executor will be appointed to handle the estate . He is responsible for settling any debts from the estates assets , and then distribute those assets remaining to the beneficiaries as stated in the will.
If the debts exceed the assets then there is simply no assetts to distribute . You cant be asked to pay any of the parents debts .
The only debt you might incur would be funeral expenses if they were not arranged and if the estate had no assetts, if you choose not to pay for a funeral, or cant afford it , the county will make the arrangements. |
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ItsFriday
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The debt belongs to your parents NOT yours. After they passed away, you might not be able to retain their assets and all, but I really, really, really, really doubt that you have to pay for their debt. |
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Mz_JaCi
 |
No you don't... if one passes away first, it will be passed on to the remaining spouse. If the remaining spouse passes on, the debt is taken with them. Unless you are a joint signer of a loan then you will be liable for that debt. |
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DebtFree
|
if they die the estate pays for it... if they have a home, the creditors could go after that, or cars....
buy them dave ramseys book "the total money makeover"... get them hooked on daves plan. it works.
http://www.daveramsey.com |
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I WANNA TELL YOU
 |
i dont think so that horrible i hope they ind a way to get out of it |
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shiprepairwoman
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Their estate if they have any will pay off the debt, you aren't liable for it unless you cosigned. So when they go if they have a house you may need to sell it but if they don't the debt dies with them. |
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Pink¥
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Id like to know too. I hope not. |
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Y.S.
 |
I wouldn't think so. If it's a spouse yes but children??? It might also depend on where the debt is coming from. |
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SKINS21
 |
u will |
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Beige Almighty - Goddess of Nada
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Oddly enough, they are in debt about the same amount it cost them to raise you. |
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OMFG♥
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well ya.yu do
or at least some.
200,000
get help now be4 its too late |
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IMHERE!
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unfortunately, yeah you do! they pass it on until that **** is paid off, i suggest they see a finacnial advisor! and maybe u should start saving for your future, so u dont end up in a mess like them! i hope everything works out |
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