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What Happens to Debt After a Person Dies? - DWC CPAs and Advisors
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What Happens to Debt After a Person Dies? - DWC CPAs and Advisors
One question the family of a deceased person often asks is: What happens to debt after a person dies? It’s important to realize that a person’s debt doesn’t simply vanish after his or her death. An estate’s executor or beneficiaries generally aren’t personally liable for any debt. The estate itself is liable for the deceased’s debt. This is true regardless of whether the estate goes through probate or a revocable (or “living”) trust is used to a…
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