Debt Does Not Go Away When You Die
When you die and have debt, your estate pays your debt before your beneficiaries receive any money. And, if your estate does not have enough money to pay all your debt, that just means that your beneficiaries will not receive anything. When you pass away, all of your assets become part of your estate. Even if you have a last will and testament, and your estate promises to pay your family member a certain amount of money, your family will not receive any money until after all your debts and liabilities are paid by your estate. Additionally, if there is…
