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September 2018 Archives

When your parents die broke

Losing a parent is one of the most difficult things you may ever go through, and it can prove even more emotionally taxing if you are the one in charge of handling your mother or father’s estate after his or her passing. Increasingly, members of the boomer generation are passing away and leaving considerable debt behind, which, in many cases, leaves their loved ones wondering what to do about it, and whether they, themselves, might be on the hook for it. If you count yourself among those who have recently had a parent die broke or without leaving enough money behind to cover debts and financial obligations, here are some key things you should know: