Will I Inherit My Parents’ Debts?

Will I Inherit My Parents’ Debts?
Generally, unless you are a cosigner with your parents on their credit cards and other debts, you could not be held responsible. Yuganov Konstantin/Shutterstock
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This week, as I reached into the mailbag, I pulled out two questions, neither of them with easy answers. I was tempted to set them aside and try again, but I decided to tackle both, knowing that my letter-writers are not the only ones facing these kinds of financial situations.

Dear Mary: If my parents are in debt and they die, who pays the bills? I am terrified of inheriting my parents’ debts. —Bethany
Mary Hunt
Mary Hunt
Author
Mary invites you to visit her at EverydayCheapskate.com, where this column is archived complete with links and resources for all recommended products and services. Mary invites questions and comments at https://www.everydaycheapskate.com/contact/, “Ask Mary.” This column will answer questions of general interest, but letters cannot be answered individually. Mary Hunt is the founder of EverydayCheapskate.com, a frugal living blog, and the author of the book “Debt-Proof Living.” COPYRIGHT 2022 CREATORS.COM
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