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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?

Worried Daughter

Dear Worried,

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...



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