Debts of deceased relatives… are you responsible?

Posted on September 1, 2009. Filed under: Uncategorized |

North Carolina Bankruptcy Attorney Susan Robicseck has a very good post on her blog about why you are not liable for a deceased persons debt.  Kentucky law is very similar here to North Carolina law in that the deceased’s assets are liable for their debts:

http://www.bankruptcylawnetwork.com/2009/08/31/debts-are-not-inherited-dont-go-bankrupt-trying-to-pay-other-peoples-debts/

The smartest thing to do is get legal advice very quickly after someone passes away to make sure whether or not you are legally required to pay a debt the deceased person incurred.  If not, it may not be necessary to file bankruptcy on the debt and you could avoid bankruptcy.

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