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Topic: What happens to your debt when you kill yourself?

WonderfulClient started this discussion 5.3 years ago #2,613

Can anyone shed some light on what happens to your debt when you kill yourself?
I know the strict law on this, but I'm wondering if anyone has experience with what happens to the debt of a loved one. I've heard all sorts of different stories that make me very uncertain about what would happen to someone's debt if they were to kill themselves.
Obviously, if I had, let's say 200,000 in savings and 100,000 in debt, then the savings would be used to pay off the debt and my estate could keep the remaining 100,000.
But how strict are they at looking at our assets? Does anyone have real experience with this? Do they dig deep into your history to see if you've given people things/bought anything or do they just look at your bank statement and if you have nothing, they take off the debt?
Will they look at the assets of your family members? Let's say they suspect I may have given, for example, my parents $50,000 10 years ago, and then I got into $100,000 debt and now I have nothing. Will they dig deep enough to find that $50,000 I lent my parents and use that to pay off part of my outstanding debt?

Sherry joined in and replied with this 5.3 years ago, 3 hours later[^] [v] #0

Unless someone else's name is on a loan or c.card that you owe the debt cannot be charged to anyone.
My husband's sister died suddenly at age 53 with a ton of debt, even though some of the c. card
companies tried to contact some family members and tried to strong arm us into paying the bills,
the lawyers laughed at them. Also this was about 16 years ago and the laws against such things have
changed making it illegal for anyone to harass family members about unpaid bills.

(Edited 11 minutes later.)

Anonymous C joined in and replied with this 5.3 years ago, 48 minutes later, 4 hours after the original post[^] [v] #0

Debt falls on the spouse. For instance if you owe the irs money, that debt falls on your spouse. Bill collectors can ask for money, but they can be ignored. Your parents have nothing to worry about.

Sifter joined in and replied with this 5.3 years ago, 4 hours later, 9 hours after the original post[^] [v] #0

Wc, I can't respond properly right now but it troubles me greatly that you are making concrete plans for suicide. Are you safe at the moment? Please get safe. Please do what it takes. You mean something to me and to others too.

WonderfulClient (OP) replied with this 5.3 years ago, 9 minutes later, 9 hours after the original post[^] [v] #0

(Citing a deleted or non-existent reply.)

> Wc, I can't respond properly right now but it troubles me greatly that you are making concrete plans for suicide. Are you safe at the moment? Please get safe. Please do what it takes. You mean something to me and to others too.
I'm really not planning on killing myself right now, no worries.
I just want to figure out how it would happen if I did, not that I will right now.
My fiancee and I's finances are just so complicated (on paper) that I'm not 100% sure how it would all go down if I died (how much of our mutual assets they would take to pay off my debt). I'd really like to know just in case, but you can't really go to a lawyer and say "so... if I happened to kill myself..."

(Edited 4 minutes later.)

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