Inheritance Planning

Generally, beneficiaries are not held legally responsible for unpaid debts held by the deceased. However, the deceased is liable for their unpaid debts, so when they die the value of their estate is used to pay their creditors. As you go through the probate process as a beneficiary, you will need to take care of a few things before the estate is settled. When someone dies, their estate may or may not go through probate. Depending on how they have planned out their estate, some or all of the … [Read more...] about Protecting Your Inheritance from Creditor Claims