Inheriting debt

[GApeachy]

"However, family members that are responsible parties for financial issues are responsible to gather needed documents per state guidelines for their loved ones care. We, as well as the state, rely on those family members to provide this information for timely and accurate filing."

So is this happening because of son having "General Power of Attorney" and "Durable Power of Attorney"?  

[MakingProgress]

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@OmarR wrote:

I got into a discussion with a family member about "inheriting debt" recently. I always thought that unless you were a joint or co-signer, they couldn't come after you, say, for your parent's debt. But after doing some research, it seems that 30 states say they can come after you if your parent's estate fails to satisfy a MEDICAL debt:

https://www.medicalalertadvice.com/articles/does-state-law-require-you-to-support-your-aging-parent/

https://money.cnn.com/2014/06/19/pf/inherited-debt-adult-children/

https://www.nerdwallet.com/blog/banking/broke-parents-medical-debts/

They are called "filiable responsibility" statutes. I was actually kind of suprised by this. Imagine if you are estranged from your parents and you get a $100,000 bill after they pass away?!? One of the websites said that the laws are generally not enforced, but tell that to this guy:

https://abcnews.go.com/Business/pennsylvania-son-stuck-moms-93000-nursing-home-bill/story?id=1640580...

In that last link, the parent had left (fled, in my opinion) the country. But still, what if that adult child was estranged from the fleeing parent?!

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It's an interesting read.  I have never heard of such laws before.   Also in WI, you will inherit your spouses debt, weather it is a joint account or not.   Not sure about other community property states and how they handle it, but if you read credit apps there is usually a line about Wisconsins laws. 

[TheBoondocks]

Thank you Omar for your time doing the research! I've been thinking about this and living in Cali, where the laws are constantly changing and stupid laws pass, it's relief that this won't affect on the fallen survivors in a very dark time.

With that being said, I never understood this as to why when my car got stolen, it was towed to a tow company and then you have to pay to get it out. Makes no sense.

[ldkcivilservant]

As the CFO of a Nursing Home in GA, I can tell you that I have never and would never go after a family for non-payment except in the situation where they have failed to co-operate. In that case, it would be a cold day in hell before I allowed the account to get to $93k.

I don't think I would have a job if I did.

[CreditInspired]

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@OmarR wrote:

I got into a discussion with a family member about "inheriting debt" recently. I always thought that unless you were a joint or co-signer, they couldn't come after you, say, for your parent's debt. But after doing some research, it seems that 30 states say they can come after you if your parent's estate fails to satisfy a MEDICAL debt:

https://www.medicalalertadvice.com/articles/does-state-law-require-you-to-support-your-aging-parent/

https://money.cnn.com/2014/06/19/pf/inherited-debt-adult-children/

https://www.nerdwallet.com/blog/banking/broke-parents-medical-debts/

They are called "filiable responsibility" statutes. I was actually kind of suprised by this. Imagine if you are estranged from your parents and you get a $100,000 bill after they pass away?!? One of the websites said that the laws are generally not enforced, but tell that to this guy:

https://abcnews.go.com/Business/pennsylvania-son-stuck-moms-93000-nursing-home-bill/story?id=1640580...

In that last link, the parent had left (fled, in my opinion) the country. But still, what if that adult child was estranged from the fleeing parent?!

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This is some kind of wild. I would have never guessed, in a zillion years, that anyone would be responsible for a debt that they didn't sign on for. Everyday, one learns something new.

I guess if I was in this situation, unfortunately, I would have to file bankruptcy and suffer the 7-10 year consequence because I think this is totally cuckoo.

Thanks so much for sharing this article.