If I die and I have bills owed, do these then fall to my family to pay?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I die and I have bills owed, do these then fall to my family to pay?
That is to say, if I died today, I would owe more than I could pay out of my estate.
Asked on November 26, 2014 under Estate Planning, Louisiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
No, do not worry. You family has no obligation to pay off your bills. Only your estate. If you owed more than you have your estate could file for bankruptcy or your personal representative could negotiate the bills with creditors to come out even. But you seem concerned about it and maybe you should get some help with managing things. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.