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But what happens when the former relieves you of the latter?
Do your bills die with you, ordo the ghosts of APRs past haunt your posterity?
Whatever is left over, if anything, is distributed to the deceaseds heirs.
That includes any loans the deceased co-signed.
A series of legal proceedings called probate determines which creditors get how much and in what order of priority.
Common Outcomes for Common Debts
Heres a look at how most common debts are handled after death.
Tax Debt
Ben Franklin likely wouldnt be shocked to learn that even in death, theIRScomes first.
In most cases, however, any hospital bills the deceaseds assets cant cover are forgiven.
They sometimes just write the debt off to avoid spending the resources needed to navigate probate.
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