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Will my mother's debt transfer to me if she were to pass away?
Anonymous4 views4 answers
My mother does not work, has no income, owns a mobile home on leased land, but has no other assets. She was left with substantial credit card and student loan debt after her divorce many years ago, and has no way of paying it. I pay for her lot rent and utility bills, but can't afford to pay her debt. Her health is desinigrating, she is type 2 diabetic and her kideys are failing. I am not sure what we need to do, or if there is anything we can do to make it so we wouldn't lose the house & her belongings to her creditors. Any advice would be helpful.
Matthew Erik JohnsonBankruptcy AttorneySeattle, WA ·
Debts will not transfer to you AS LONG as you don't mismanage her estate if you are acting as executor. Make sure you do not take anything for yourself until all debts are settled and taxes are paid. A little money for an attorney and CPA to handle this for you will save you time, and will save you from being held personally liable for your mothers debts.
I am sorry for your situation.
You are not responsible for your mother's debt, absent agreement on your part to accept responsibility. Having said that, if your mother's creditors are able to get a judgment against her, it may effect your rights to anything you might otherwise inherit from her.
Your mother needs to see an estate planning attorney to make sure that her estate planning is in order. The attorney can help her structure things in the best way possible to protect your interests.
James Frederick
Robert L. Brenna Jr.Personal Injury LawyerRochester, NY ·
Your county Bar association may be able to help you get to a clinic, or even an attorney in private practice that can help, even if she has no money for attorney's fees. Don;t agree to pay anything personally until you get to an attorney, at least as far as the credit card bills are concerned.
Sometimes an attorney for an estate can negotiate down unsecured debt (ie credoit card) to save something for the family. You are to be commended for helping out in this difficult situation.
Best wishes for her and you.
Bob Brenna Jr.
Brenna Brenna and Boyce pllc
Rochester, New York 14614
I agree with the first response. You will not inherit her debt, although that debt may act to reduce your inheritance (if any). Unless, of course, the debt is currently yours.
