Legal Question in Wills and Trusts in Georgia

Responsibility for debt

My parents have much more debt than they do assets. At the time of the second parent's death will I be responsible for paying off their debt?


Asked on 5/29/01, 9:09 am

1 Answer from Attorneys
Hugh Wood Wood & Meredith

Re: Responsibility for debt

Nope. However, if you are the Executor of their estate(s), you will have to surrender all of those assets to satisfy their debts. Creditors can get THEIR (your parents) assets, but Creditors can not get your assets to satisfy your parents debts. Hope this is clear. BTW: Do not co-sign or guaranty anything for your parents, or your assets will suddenly be on the hook. Hugh Wood

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Answered on 6/23/01, 5:01 pm


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