Legal Question in Wills and Trusts in California
child debt inheritance
My Father is terminally ill and will likely die with about $20,000 in debt with no assets. As his son I would like to know if his children (there are 2 of us) are going to inherit that debt, or if there is something we can do to avoid that.
Please advise.
Asked on 10/04/02, 2:34 pm
2 Answers from Attorneys
Chris Johnson
Christopher B. Johnson, Attorney at Law
Re: child debt inheritance
Only his estate (his property) is liable for the debt, unless you've co-signed on any debts.
Answered on 10/04/02, 4:24 pm
Karla Shippey
Law Offices of Karla Shippey
Re: child debt inheritance
Provided you have not co-signed or otherwise guaranteed any of your father's debts, the creditors will be allowed to claim only against the assets in your father's estate. If the estate is not sufficiently solvent, the creditors will have to compromise for partial payment or write-off the entire debt.
Answered on 10/04/02, 6:26 pm
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