Are all debts forgiven at death?

+1 vote
asked May 14, 2018 in Law & Legal by Murfmeen98 (340 points)
Are all debts forgiven at death?

When you or someone dies are all the debts you owe or the person that died owes forgiven when someone dies?

1 Answer

0 votes
answered May 14, 2018 by Essmann (42,860 points)
Not all debt is forgiven after your death and if you have any assets that aren't willed to your children or other family then the assets will be sold to pay off the debt owed.

Student loans are forgiven after someone dies but other debt will be paid off with the money that was made from your assets and if there's not enough money to cover the entire debts then the rest of the debt will be forgiven after death.

If you have no assets and no one else's name is on the debt then the debt will just have to be forgiven after your death.

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