Legal Question in Wills and Trusts in Pennsylvania
my parents live in pennsylvania. if they die, have a will leaving everything divided equally between 4 children and have credit card and personal unsecured loan debt; are us children liable for their debt?
Asked on 3/21/10, 7:53 am
1 Answer from Attorneys
John Davidson
Law Office of John A. Davidson
No, the estate is responsible for the debt. If the estate can not pay all the creditors then its insolvent and there will be nothing left for the children. However, the creditors can not collect from you. However, do not be surprised if the estate is insolvent they try.
Bottom line: You inherit assets not debt.
{John}
Answered on 3/26/10, 7:59 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
