Your Deceased Parent’s Debt - Are You Responsible For It?

When you parents pass on, there are a lot of emotions to contend with on top of the pressing financial issues of your parent’s estate, particularly if there is not a will. One of the chief concerns of many children is paying off the debts incurred by a parent. Many people fear that such outstanding debts will become their own burden.

So what exactly is a child of a deceased parent responsible for as far as debt? (more…)