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The Watercooler
Flash of panic -- can creditors come after extended family?
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<blockquote data-quote="Hound dog" data-source="post: 449712" data-attributes="member: 84"><p>The answer. NO. They alone are responsible for their debt.</p><p></p><p>However, if someone has outstanding debt when they pass and have some sort of estate, such as a house, cars, bank acct ect........the executor of the estate does have to use estate funds, or liquidate estate assets to pay debts left behind. If there will be no estate of any sort, you're good to go.</p><p></p><p>mother in law left no estate behind. She only had a few debts.......but there was money set aside for those because we knew they were going to be there.</p><p></p><p>Does that help ease the panic?</p></blockquote><p></p>
[QUOTE="Hound dog, post: 449712, member: 84"] The answer. NO. They alone are responsible for their debt. However, if someone has outstanding debt when they pass and have some sort of estate, such as a house, cars, bank acct ect........the executor of the estate does have to use estate funds, or liquidate estate assets to pay debts left behind. If there will be no estate of any sort, you're good to go. mother in law left no estate behind. She only had a few debts.......but there was money set aside for those because we knew they were going to be there. Does that help ease the panic? [/QUOTE]
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Flash of panic -- can creditors come after extended family?
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