People Twitter

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The wealthy (lemy.lol)

submitted 2 years ago by King@lemy.lol to c/whitepeopletwitter@sh.itjust.works

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https://mastodon.social/@FluentInFinance/111754405817875275

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[–] JustEnoughDucks@feddit.nl 1 points 2 years ago

Debts will also only get paid out of their estate and never transferred on to kids or family unless it is using a joint account or the inheritors explicitly accept it. If they transfer the assets before they die, then die with 0 assets and a ton of debt, the debt just disappears (as far as their family is concerned).

Unless I am understanding that loophole wrong.