Are you American? If so, know your rights. Most debt cannot be passed down to surviving children. If the amount of debt exceeds how much their estate is worth, the lenders are not entitled to you paying them. They will try to make you pay, don’t do it! Do not give them even one penny or agree to anything, or you will have then “assumed” the debt and now it is yours.
The exceptions are loans where your name is on them (joint or cosigned iirc) or medical debt in certain states with filial responsibility laws.
All Im inheriting is debt…
Are you American? If so, know your rights. Most debt cannot be passed down to surviving children. If the amount of debt exceeds how much their estate is worth, the lenders are not entitled to you paying them. They will try to make you pay, don’t do it! Do not give them even one penny or agree to anything, or you will have then “assumed” the debt and now it is yours.
The exceptions are loans where your name is on them (joint or cosigned iirc) or medical debt in certain states with filial responsibility laws.
With ya there.
after 30 years I thought the house was paid off. Nope. Now I’m in 5 way inheritance battle over scraps waiting to happen.