Saturday, December 31, 2011

Does debt automatically transfer to beneficiaries?

Not unless you have cosigned on the loan or you ume the debts. For example - if you are living in the house generally the bank will transfer the loan to you and you can pay it. For things like credit cards no.. once she has ped away the loans don't really exist. Life insurance is untouchable by her creditors except if you've cosigned anything and it is tax-free.

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