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  1. #1
    Join Date
    Jun 2006
    Posts
    22

    Default Are Children Responsible for a Parent's Credit Card Debt

    Hi. I have a parent who is terminally ill.He is also in major credit card debt. He has no actual cash in the bank but does have property that would become mine upon their death. Will I then legally be responsible to pay all these credit card debts? Would they expect me to see the property to pay them?I live in New York....

    Thanks

  2. #2
    Join Date
    Jun 2006
    Location
    Practicing in Los Angeles, California
    Posts
    411

    Default Re: Are children responisble for parents credit card debt?

    Quote Quoting taz2u2
    Hi. I have a parent who is terminally ill.He is also in major credit card debt. He has no actual cash in the bank but does have property that would become mine upon their death. Will I then legally be responsible to pay all these credit card debts? Would they expect me to see the property to pay them?I live in New York....

    Thanks
    My response:

    His Estate is responsible, and that includes a potential forced sale of the property in the Estate to pay off the debts. You would not be personally liable for the debts -- however, you may not be getting the property you think you're getting.

    IAAL

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