QUESTION
Is debt inherited via death by a brother or sister?
Asked on Mar 09th, 2013 on Collections - New York
More details to this question:
My sister passed away. Her husband is deceased. Her son and daughter are deceased. She has a $2000 insurance policy that will be paid to me, her brother, as the next of kin. If i accept this payment, will I assume her outstanding debt? I am not on any of her bills or credit cards or accounts.
1 ANSWER
Debts are never inherited. Upon death of a debtor the Estate of the decedant is obligated to pay debts from the non-exempt assets of the Estate.
Answered on Mar 11th, 2013 at 11:38 AM
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