Legal Question in Credit and Debt Law in Pennsylvania
credit card balance at time of death
if i have a credit card(s) balance at the time of my death are my children bound to pay this balance(s)? i am a widower. best regards
Asked on 4/29/02, 7:24 pm
1 Answer from Attorneys
Matthew Nahrgang
Nahrgang & Associates, P.C.
Re: credit card balance at time of death
Generally, your estate is liable for any debts that existed at the time of your death. To the extent that you have assets you wish for them to inherit, the debts must be paid first.
If you eliminated the debt during your lifetime, through negotiation or bankruptcy, that would eliminate your concern.
I trust this has been helpful, but feel free to call or e-mail with any questions on a free intial basis.
Answered on 4/30/02, 3:53 pm
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