Legal Question in Credit and Debt Law in California
debt of a recently deceased person
my father recently died and had over 300K worth of debt and no means to pay it off. can my family inherit the debt, or does it get erased?
Asked on 8/03/07, 12:43 am
2 Answers from Attorneys
Carl Starrett
Law Offices of Carl H. Starrett II
Re: debt of a recently deceased person
Typically the creditors of an estate must be paid before assets can be distributed to the heirs. However, the heirs would not be personally responsible just because of a blood relation to the decedent. There would need to be some idependent legal basis for liability such as co-signing on a loan.
Answered on 8/03/07, 1:03 am
Jonathan Stein
Law Offices of Jonathan G. Stein
Re: debt of a recently deceased person
If it was just your dad's debt, then you would not have any liability. However, make sure any assets are properly distributed. You may want to get a consultation with an estate planning attorney.
Answered on 8/03/07, 9:47 am