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What happens when a family member dies and they left a significant amount of debt? Can creditors come after the surviving relatives to collect? Is an inheritance affected by that debt?

When a family suffers a loss of a loved one, many times there is an issue of the decedent’s debt. The survivors often ask if they will become liable for the debt. Unless a family member entered into a contract as a co-borrower, or a guarantor of the debt, then the answer is most likely no. But, there is also the issue of inheritance that comes into play if the decedent had assets. When a decedent has assets and a lot of debt, that could affect the inheritance that could be received by the survivors.

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THIS VIDEO IS INTENDED FOR EDUCATIONAL PURPOSES ONLY AND DOES NOT CREATE AN ATTORNEY/CLIENT RELATIONSHIP.

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