If I die and I have bills owed, do these then fall to my family to pay?
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If I die and I have bills owed, do these then fall to my family to pay?
That is to say, if I died today, I would owe more than I could pay out of my estate.
Asked on November 26, 2014 under Estate Planning, Louisiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
No, do not worry. You family has no obligation to pay off your bills. Only your estate. If you owed more than you have your estate could file for bankruptcy or your personal representative could negotiate the bills with creditors to come out even. But you seem concerned about it and maybe you should get some help with managing things. Good luck.
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