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Who Inherits Your Debt?

Retirement EducationImagine that a family member just listed you as the sole heir to his/her estate which included extensive credit card bills along with a house with negative equity. Where does that leave you? Well fortunately the personal debt of a deceased most often cannot be passed along to their loved ones. However, there are many dependencies which could allow for some debt to pass through to family or loved ones. These dependencies include how the specific assets are titled as well as the state in which you reside. For more details, please read the recently published article from Shelly Schwartz which gives great insight into specific areas where planning ahead can save heartache down the road. The article is linked here.

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