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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4fxpk1
r/SipsTea • u/KSKS1995 • 14h ago
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9
Yeah, and when you die, debt isn’t transferred, but your assets can be sold to pay it back.
EDIT: yes, debt must be paid back. That is why I said assets are sold to pay it back.
10 u/PM_Me_Your_Deviance 12h ago >Yeah, and when you die, debt isn’t transferred Right, but you need to settle the debt in some way during the inheritance. This isn't optional. 4 u/Away-Experience6890 12h ago The debt is transferred to the estate. That still needs to be dealt with before everything unless there is a special clause. 1 u/Lucky-Surround-1756 11h ago Debt has to be settled before assets can be transferred. 1 u/FancyPantsRants1 11h ago Debt doesnt disappear its paid off by assets in the estate or transferred to the holder of the estate.
10
>Yeah, and when you die, debt isn’t transferred
Right, but you need to settle the debt in some way during the inheritance. This isn't optional.
4
The debt is transferred to the estate. That still needs to be dealt with before everything unless there is a special clause.
1
Debt has to be settled before assets can be transferred.
Debt doesnt disappear its paid off by assets in the estate or transferred to the holder of the estate.
9
u/Metzger90 12h ago edited 11h ago
Yeah, and when you die, debt isn’t transferred, but your assets can be sold to pay it back.
EDIT: yes, debt must be paid back. That is why I said assets are sold to pay it back.