Legal Question in Wills and Trusts in Michigan
Can we inherit debt?
My husband's mom and stepdad are in their 50s, and of ill health. My husband is not close with them and we live on the other side of the country. They have significant debt due to medical bills, live in HUD-housing, my FIL is on disability and my MIL doesn't work and was denied for disability. My husband is the youngest of 3 (the older two are half brothers (same mother, but my FIL is not their father either) that still live near my in-laws), however we are the only ones with money. When his parents die, are we required to pay for the funeral and will we inherit their debt? What happens if no one is there to pay for a funeral? What action do we need to take not to inherit their debt? Is there some fund that can be set up prior to death that reduces the cost of the funeral?
2 Answers from Attorneys
Re: Can we inherit debt?
When he dies, his "estate" will be responsible for his debt. If there is not enough money to pay for his debt, it will not be transferred to you or your husband.
Your husband and his siblings should probably split the bill for a respectable burial however, in the event that his estate cannot pay. You can always advise your in-laws to pay in advance for their burial. They need only contact the funeral home of their choice and buy burial plots.
Furthermore, if your father-in-law desires to appeal his denial of SSD, please have him contact me as that is one of my areas of specialty (providing he is in Michigan).
Any further questions, please visit www.lawrefs.com to contact me further.
Re: Can we inherit debt?
I agree with the previous answer posted. Remember, you cannot receive assets of the deceased and not pay the debts. Looks like there are no assets really.
This is a good time for you to evaluate if your own estate plan is in order. If you want a free copy of my CD, "Your Estate Plan" you may request one at 480.835.1500.
Best regards,
James D. Jenkins
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