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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-17-07 01:28 PM
Response to Original message
1. There is this site
http://wiki.answers.com/Q/Are_children_responsible_for_their_parent's_debts_when_the_parent_dies_even_if_you_are_estranged_and_haven't_been_in_contact_for_many_years

Are children responsible for their parent's debts when the parent dies

No you are not responsible, but if your parent(s) left a Will and you are named Executor or someone else is and you are heirs in the Will (highly possible) then the Estate of your parent(s) meaning house, property, summer homes, monies, stocks/bonds, savings in banks, etc., will have to go to Probate. Probate makes sure that all taxes on any property are paid and all out-standing debts are paid first. What is left is divided according to the wishes of your parent(s) in the Will. It take approx. 1 year (or less) to Probate a Will.
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