are the children of an elderly parent financially responsible for the debt incurred for nursing home care
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Read More Answered By: Rachel Hunter |
Yes and no. It depends on the debt and what was signed. If its a nursing home obligation, then its possible that the children may have signed something, but in the absence of this the parent is liable, not the children.
If the parent is deceased, the children are not directly liable, but it depends on what assets are in the parent's estate. The estate would be responsible for the debts; the heirs cannot receive asets like a house or car or other valuables and not pay any creditors, so in that sense the children would be indirectly responsible. Also, if Medicaid paid out any funds, then Medicaid is obligated to seek recovery from the parent's estate. |
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