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If I died would my family have to pay my debt even though I'm the only name on any of the loans and accounts? |
If I died would my family have to pay my debt even though I'm the only name on any of the loans and accounts? Nope. If you leave an estate the debts would be paid from that. definitely NO finalyst analyst Only if your estate has assets. If you die broke or put the money in a trust they do not have to pay anything but the taxes. Your estate (belongings: car, home, etc. ) could have a lien placed against it and possibly be taken away from your surviving family. Do you have life insurance to leave your family? Most people buy a life insurance to look after family. If you don't leave a will, you know who will take your property? Don't be too concerned about your debt there is options of life insurance on your loans right? Actuall the answer is no! Only the person that applies for probate, will inherit the debts, meaning the person, that takes on the legal right to administer your estate, in accordance to any wills or testaments. If nobody applies, then your assets & liabilities, will probably go to the state. |
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