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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.
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.