WHAT HAPPENS TO MY DEBT AFTER I DIE?

When a person passes away, their debt is not automatically extinguished.  Typically, a probate court opens an estate that holds all of the person’s assets and liabilities.  This allows the court to distribute the assets and liabilities according to who should receive them.  The liabilities, debts in the person’s name, will be paid from the assets of the estate before distributing the remainder.  Family members will not be responsible for paying the debt of someone who has passed away.