Legal Question in Credit and Debt Law in Virginia

Parents debt

When your only remaining parents dies, is their outstanding debt the childrens responsibility, or is it written off.


Asked on 5/10/05, 10:18 am

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Parents debt

The assets in the parent's estate are applied to the debts before they pass to heirs/devisees. If there are insufficient assets to cover the debts, the heirs get nothing, but the creditors have no claim against them.

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Answered on 5/10/05, 11:20 am


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