Question: If I die with debt, will my family be responsible for it? The simple answer is that, generally, your debt dies with you but that doesn’t mean it disappears. If your estate has enough assets to cover your debt, creditors will be paid first and beneficiaries receive anything that remains. However, things can be more complex than that, especially if your beneficiaries are your surviving spouse and children and your estate consists of the home they live in. In any case, having a will in place is the best way to ensure the smoothest transition in the event of your death. You can read more about dying with debt in this article:
What Happens if I Die With Debt?
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Probate of Estates
Probate is the legal process of distributing the assets and estate of a deceased person. This includes resolving all probate property issues like taxes, insurance, title, and paying creditors for any outstanding money owed by the deceased.
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