When you die, your debts don't die with you - they are still part of your estate.
The major function of the executor of an estate is to settle the debts of said estate. If the estate runs out of money (even after selling property, for example) before paying all the debtors, according to order of seniority, then everyone else in line is out of luck.
However there are quite a few states with "filial responsibility" laws (Tennessee is one of them) that oblige children to take care of their parents in usually vague and under-specified ways ... those have been used to chase children for unpaid nursing home debts etc.
However there are quite a few states with "filial responsibility" laws (Tennessee is one of them) that oblige children to take care of their parents in usually vague and under-specified ways
Huh. Interesting; was totally unaware that was a thing.
Some places seem to go further:
Singapore, Taiwan, India, and Mainland China criminalize refusal of financial or emotional support for one's elderly parents
Emotional support! Idea for Chinese sitcom; awful couple make life difficult for their adult children, on the basis that the children are legally required to be nice to them.
“You have to pay your parent’s posthumous debts” still seems like a hell of a leap from “you have to take care of your parents”, tho. I’m very surprised more states haven’t repealed these (looks like about half of US states have one, though it’s not clear how active they are).
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When you die, your debts don't die with you - they are still part of your estate.
The major function of the executor of an estate is to settle the debts of said estate. If the estate runs out of money (even after selling property, for example) before paying all the debtors, according to order of seniority, then everyone else in line is out of luck.
However there are quite a few states with "filial responsibility" laws (Tennessee is one of them) that oblige children to take care of their parents in usually vague and under-specified ways ... those have been used to chase children for unpaid nursing home debts etc.
Huh. Interesting; was totally unaware that was a thing.
Some places seem to go further:
Emotional support! Idea for Chinese sitcom; awful couple make life difficult for their adult children, on the basis that the children are legally required to be nice to them.
“You have to pay your parent’s posthumous debts” still seems like a hell of a leap from “you have to take care of your parents”, tho. I’m very surprised more states haven’t repealed these (looks like about half of US states have one, though it’s not clear how active they are).