Last Will – Will my family be responsible for my student loans?

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Last Will – Will my family be responsible for my student loans?

I am a 45 year old woman, in good health. I have few possessions and few debts – except for a large student loan. I am making out a will, to ensure that my literary work (mainly unpublished) does not fall into my family’s hands. My parents will receive the rest of my possessions. It’s highly unlikely that I will go before them, but you never know! Will my parents get stuck with my student loans if I die before them? (I’ve considered taking out life insurance on myself to protect against this possiblity.)

Asked on June 3, 2009 under Estate Planning, New York

Answers:

N. K., Member, Iowa and Illinois Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Your parents are not responsible for your student loan unless they co-signed your student loan.


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