Parental Debt obligations? please help!

What is the name of your state? Colorado
hi. i have a question regarding parental debt. My parents have a great deal of debt including numerous maxed out credit cards. They have no savings and no retirement. What happens when they pass away? Do I need to make arrangements to make certain all of that debt does not fall on my family? I don't have a clue how we could manage it. I have tried counseling them numerous times but to no avail. Every time they get any money they get more in debt. We are not co-signed or named on any of their property or credit cards, I am just wondering if we can be pursued for this debt later. Is there some kind of insurance we can get? Thanks for your help.

[I AM ALWAYS LIABLE]

Originally posted by a_fbetafood
What is the name of your state? Colorado
hi. i have a question regarding parental debt. My parents have a great deal of debt including numerous maxed out credit cards. They have no savings and no retirement. What happens when they pass away? Do I need to make arrangements to make certain all of that debt does not fall on my family? I don't have a clue how we could manage it. I have tried counseling them numerous times but to no avail. Every time they get any money they get more in debt. We are not co-signed or named on any of their property or credit cards, I am just wondering if we can be pursued for this debt later. Is there some kind of insurance we can get? Thanks for your help.

My response:

Take a deep breath, and a sigh of relief. You're not responsible for the debts of your parents. Unless there's money in their Estate after each of them dies to pay off, or pay toward their debts, then the debts die right along with them.

IAAL

[nextwife]

AS their estate is unlikely to be left with any assets, although awkward, you may want to talk them into funeral prepaid plans, so you don't get stuck with that expense.