Does the New Bankruptcy Bill pass a dead parents debt to their KIDS ?!!

This is rumoured in another post...anybody know the answer?

I'd have to download the bill and read it thoroughly when I get home to make sure.

The bills of the estate has to be paid before the estate is settled.

I know in my father's case in NC they had to run ads in the local newspaper calling for all my fathers debts to be called into the attorney in the case.

parent's debt, except to the extent they want to inherit something.

This bankruptcy bill is godawful without a doubt, but it won't make heirs personally liable for parents debts beyond the extent of the value of the parent's estate.

There was so little left of my mother's "estate" after the bills were paid (approx 6K) that they didn't even make us hire a lawyer to have it put in the paper. The county govt. office did it themselves and they recommended a certain paper because the add was only $12. We did have to hire a lawyer though because she did was holding a mortgage that needed to be transferred from her to my brother and I. The lawyer took 3.3K of what we got from the estate to file the paperwork and transfer the mortgage. So much for an estate, huh? Apparently if the estate is over a certain amount, they actually want you to run it not only in 1 paper to meet legal requirements, but in several local papers.

in a way since first thing that happens when the assets are counted is that debts are paid. THEN you get your inheritance.

are they cancelled or are the heirs responsible for paying the balance due?

I guess they are discharged. They can't be THAT mean, can they?

All debts have to be cleared from an estate before the assets are passed on to the heirs. If all the money is gone after the bills are paid then you're SOL. But I don't think the law actually passes the bills down to the heirs. After the bills are paid from the estate, the remaining debt dies when the person dies.

I'd be in deep shit if I have to inherit debt.

Thinking that the deceased's debts have to be paid from decedent's assets prior to distributing to heirs = making the heirs responsible is asinine.

due to medical bills and credit card debt. His only assets were about $100 and a 1996 pickup truck. My son won't be responsible for his dad's debts plus, since there are so few assets , the creditors may just walk away with nothing due to lack of interest in pursuing it. If not, they can have the few assets my ex-husband had.