11-29-2009, 06:33 PM
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#1 |
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Admiral
  
Join Date: May 2000
Location: in the middle of the pacific ocean
Posts: 5,344
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what happens with your debt when you die?
i've always been curious about this.
say that i have no spouse, no will, some adult children. i have an outstanding bill with a creditor or whatnot. are my children responsible for my debts? what if i have no children?
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"I pick my nose too but never eat it." - bachviet, 3/30/04 if anyone wants to go scuba diving in oahu or wants to learn who to scuba dive in oahu, PM me. 
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11-29-2009, 10:47 PM
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#2 |
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Chief of Naval Operations
 
Join Date: Aug 2002
Location: San Diego
Posts: 10,086
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Whatever part of the debt the assets don't cover usually just goes away. I think it's a bit like a bankruptcy.
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As for our common defense, we reject as false the choice between our safety and our ideals. |
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11-29-2009, 10:54 PM
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#3 |
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Chief of Naval Operations
Join Date: Jun 2000
Location: woah... why is welfareloser here with me so early in the morning and more importantly why am I wearing her clothes?!?
Posts: 13,754
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The come after you in the afterlife.
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********************************** DCM #1 (Founder)  "Nobody beats Vitus Gerulaitis 18 times in a row." - Vitus Gerulaitis on beating Jimmy Connors after 17 failed attempts. |
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11-30-2009, 05:28 AM
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#4 |
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Fleet Admiral
Join Date: Mar 2000
Location: Michigan
Posts: 9,390
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11-30-2009, 06:39 AM
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#5 |
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Rear Admiral Lower Half
Join Date: Jun 2002
Location: Charlotte, NC
Posts: 2,533
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Your estate gets compiled minus life insurance and then everything gets settled up. Typically if any debts remain they are forgiven. It isn't the responsibility of the children to pay the debt.
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It only ends once... Anything that happens before that is just progress. Courage is not the absence of fear but rather the judgment that something else is more important than fear. |
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12-01-2009, 03:50 PM
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#6 | |
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Commander
 
Join Date: Jun 2000
Location: Costa Mesa, CA
Posts: 1,295
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Quote:
Awesome... |
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