This is a good topic...

I think it depends on the estate laws specific to the state you live in and whether or not you pass away with or without a will. My father (whom I'd never met) past away without a will last May and his people (sister, brother, girlfriend) etc. tried to stick my sister and I will all his cc bills.

That is a very good idea. Probably the best way to ensure your children don't end up with your debts. To give instructions to sell an item or something to settle your debt so they don't actually have to fork out for it.

I believe that the only way someone should be responsible for someone's debt in any circumstance is in a joint account. No one should be responsible for supporting and paying for someone's spending trends. The lender should just file it as a loss.

well this is really a very strange situation and in my opinion i dont think that the bank is obliged to do anything wrong with your nominee once you pass away.

This is a good topic...

I think it depends on the estate laws specific to the state you live in and whether or not you pass away with or without a will. My father (whom I'd never met) past away without a will last May and his people (sister, brother, girlfriend) etc. tried to stick my sister and I will all his cc bills. He had over $75k in unpaid cc bills!!
But I did some research and it turned out that in Washington D.C. (where he lived) the creditors could only go after his "estate" (house, car, IRA etc) but only once someone filed with the court to have his estate legally opened. It was a VERY involved and complicated process. I tried to get some legal advice from someone here in Cali but they told me that every state has different estate laws so they couldn't help me. :
I think the best thing (and I am working on this now) would be to make sure you have a will or living trust with specific instructions for settling your affairs (including any unpaid cc debts) so your spouse/kids/family won't be stuck. I don't want my son to have to worry about my bills when I pass...

I am with you all the way, except I dont think my kids will cancell first. They are going on a shopping spree first....lol.

The reason I ask all these questions is because I'm trying to gain as much knowledge as I can about credit cards and credit ect. As I dont want to make any foolish mistakes if I dont have to. I want to give my kids the best so I guess I'll have to tell them to cancel my cards when I die LOL.

No they will not lik us for that......BUT WHAT ABOUT OUR DEBT FROM THEM? When I leave here, I hope to leave money for my kids also. If I can't, I want to have provided them with enough knowlege to take care of their own responsibilities and PAY WHOMEVER THEY OWE! Please don't make the mistakes that I did when I was young, I did not care who I owed because I was still living with my mother. But it hit me when I could not get the apts with the swimming pools, community rooms, and fireplace...I had tore up credit. I had to rent smaggy-down-hood-apts. It was all good though, I made it and I have learned a lesson.

I wonder can we leave out debt to FG!

Thanks for replying. The reason I ask this question is because I always think about what I do now, how is it going to affect my childrens future ect. I wouldn't want to pass my debts onto my children, as they're not going to love me for that.

Boooooo

Hummmm, well I know that my grandma paid off her husbands bills when he kicked the bucket, but I am not for sure if she was obligated to do so. I hear rumors that if you were married before you demise, the spouse get's sent the bill. How true this is, I don't know. If this is true, my husband's death (I can go first) is going to send me to the morge with him because his child support is a killer. Before I let that bill roll over to me, I'll join the mafia!


This is a good topic, let's see what we can get in here.

From what I have heard, I don't think your debts can be passed on unless someone else's name was on your account as well. I think though that if you leave behind real estate, cars, boats, etc. then the creditors can petition the courts to have those sold in order to repay the debt. Don't quote me on this, but that is what I have heard.

I've always wandered who takes responsibilty for your credit card bills once you pass away? I'm not on deaths door yet, but its something I've always been curious about.