Debt

The short answer is no—debts owed by your parents, partner, or children will not be transferred to you upon their death, and vice versa. If the other co-signer dies, the debts or money owed through joint and co-signed accounts are your responsibility. When your parents die does their debt become yours? The loss of a […]

The basic answer is no—the debts of your parents, partner, or children do not become yours if they pass away, nor would your debts be passed to someone else should you die. … For example, consider who is responsible for credit card debt after death when the card or account has two cosigners. Who’s responsible