What Families Need to Know About Debt After Death
Sadly, the poverty rate among seniors is rising, prompting the question of whether or not it is possible to inherit debt. In general, when a loved one passes, his or her debts fall to the estate to be paid. However, in situations where debt is shared -- for example, jointly owned credit cards or shared student loans -- the debt can pass to the account co-owner, even if he or she was unaware of the debt. This is why it is important to consider debt planning as part of your ov
