Do I have to pay my parents debts when they die?

Question

im an only child, my mother is not married nor has she ever been. She doesnt own a house, really has no assets at all. Shes currently $20K in debt and that number is only going up as she gets older. Shes in her 40's now. If she dies tomorrow, will I have to pay those debts?

Answer 1

don't think negative just think positive.

Answer 2

No, not unless you are a coborrower or cosigner for those debts.  Her estate will have to pay them, however, before you inherit anything.

Answer 3

someone like your mom should file bankruptcy

esp. if no assets to go after.  She can take advantage of it and in 7 years be in MUCH better shape.

but no you don't have to pay a cent.

Answer 4

It will have to be paid from her estate. Any assets will have to be sold to pay the debts.

You are not personally responsible for the debts

Answer 5

NO - her debts will be paid out of any assets she leaves behind - so you will have to sell everyhting she owned to pay her debts - but when the money runs out you don't have to amke up the difference.