After losing her father, a woman notices her mother's financial management deteriorating due to grief-fueled spending and gambling. Though it feels overwhelming, the daughter's inquiry reveals important insights about debt responsibility. Generally, children are not liable for a parent's debts, unless there are contingencies such as co-signing loans or specific legal obligations tied to medical expenses in certain states. Filial responsibility laws can make children accountable for their aging parents' unpaid medical bills in some jurisdictions, emphasizing the complexity of financial obligations post-parent's death.
You are not responsible for the debt your mother leaves when she is gone, unless you co-sign something for her, OR she ends up leaving behind medical bills and you live in a state that recognizes filial responsibility laws.
When someone dies, their estate inherits their debt. The debt she owes would be taken out of whatever assets she has left, which may not be substantial.
Filial responsibility laws can hold an aging parent's children accountable for medical bills if Medicaid does not cover the expenses.
Your mother's gambling addiction and spending habits, driven by grief, will create a mess for the next generation unless addressed.
#family-finances #debt-responsibility #gambling-addiction #filial-responsibility #grief-and-spending
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