Legal Question in Credit and Debt Law in Minnesota

I am 24 years old. My parents are in their 60's. I am the only child. If they rack up a lot of credit card debt, and pass away , who is stuck paying off their debt, if anyone? How can I make sure it is not coming out of my inheritence?


Asked on 2/08/11, 6:01 pm

1 Answer from Attorneys

The good news: their estates will be responsible to the creditors, and not you.

The bad news: their estates will be responsible to the creditors, and they get paid before you do. There is nothing you can do to protect your "inheritance" because the living have no heirs (i.e. you have no rights until their deaths). I am guessing you would not want any of your potential heirs telling you how to spend your money.

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Answered on 2/09/11, 8:00 am


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