Will my spouse or nearest and dearest need to pay?
What are the results to the money you owe along with other financial obligations you have, your state’s law about which debts are paid first, and how your assets are transferred at your death after you die depends on the types of debts and obligations.
Kinds of Debts Your Estate May Need To Spend
A couple of kinds of financial obligation are canceled upon the loss of the debtor, but the majority debts—as well as other obligations, like taxes—must be compensated because of the person’s estate that is deceased. The following is a fast summary of exactly what occurs to typical forms of debts and responsibilities: