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  1. #1
    Join Date
    May 2014
    Posts
    12

    Default Can an Adult Inherit a Parent's Debts

    My question involves estate proceedings in the state of: IL or NM
    The situation is an adult married child is concerned that they will have to assume their divorced parents debts after the parents death. Nothing is in the child's name. The parent is in considerable debt which clearly exceeds the value of the estate. Is there any reason for concern? The child is now in IL and the parent is in NM, but the parent may sell house and move to IL. Thank you.

  2. #2
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Can Adult Inherit Parents Debts

    Given the scenario you've written, the answer is no.

  3. #3
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Can Adult Inherit Parents Debts

    a child does not inherit a parents debt.


    there are a couple situations where a child can end up liable for a parents debt but it involves either acceptance of the liability or negligence in acting in a capacity where they would make financial decisions for the parent. A guardian, conservator, or agent in a power of attorney situation can, if they act improperly, cause themselves to become liable for a parent's debt but generally speaking, no, a child does not inherit a parents debt.

  4. #4
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Can Adult Inherit Parents Debts

    Quote Quoting jk
    View Post
    a child does not inherit a parents debt.


    there are a couple situations where a child can end up liable for a parents debt but it involves either acceptance of the liability or negligence in acting in a capacity where they would make financial decisions for the parent. A guardian, conservator, or agent in a power of attorney situation can, if they act improperly, cause themselves to become liable for a parent's debt but generally speaking, no, a child does not inherit a parents debt.
    Even though many timeshare companies try hard to make it so...LOL.

  5. #5
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Can Adult Inherit Parents Debts

    Quote Quoting llworking
    View Post
    Even though many timeshare companies try hard to make it so...LOL.

    now that's funny.

  6. #6
    Join Date
    Sep 2012
    Posts
    1,991

    Default Re: Can Adult Inherit Parents Debts

    does anyone actually use and benefit from having a timeshare? except for the snakes* selling them I mean.

    *my apologies to the serpents

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