Can someone please explain exactly who debt works in relationto death? I understand it means you owe money, but if my parents die owing a bunch of money and leave stuff to me, do I inherit their debt as well? Do I have to pay their medical bills?
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When someone dies, all of their property goes into a special kind of trust called an estate. If they owed money to anyone, those people can file claims against the estate, and the estate’s assets will be used to pay those debts. If there’s anything left after paying the debts, the heirs get to inherit it. If there are debts left over, those are just discharged, and can’t be collected.
That doesn’t stop some debt collectors from trying to convince you to pay the debts anyway, but you don’t have to. You’re not responsible for their debts.
Generally, you’re not responsible for medical bills either, unless you signed the papers saying you’d pay them. Again, that doesn’t mean that hospitals won’t try to talk you into paying them.
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