Can I inherit my parent’s debt? | Savvy Senior
Last updated 5/10/2017 at Noon
Dear Savvy Senior,
What happens to a person’s debt after they die? My mother has taken on a lot of medical and credit card debt over the past few years and I’m worried that my brother and I will be responsible for it when she dies. What can you tell me?
In most cases when a person with debt dies, it’s their estate, not their kids, that is legally responsible. Here’s how it works.
When your mom dies, her estate which consists of the stuff she owns while she’s alive, such as a home, a car, cash, etc. will be respon...