Is this correct?

[BrightStar]

Ok, so say somebody dies and leaves you their assets, but you need to sign a paper to claim their assets.

Is it true that you also inherit their debts, as debt is considered an asset as well, meaning you get stuck with their bills, while they are rotting in the ground?


If not, then how does it work?

[Morning Glory]

nope, sadly it's true.

[BrightStar]

glad I didnt sign that policy then!
what about life insurance, where they leave you as the benifactor?*

[incog]

Ok, so say somebody dies and leaves you their assets, but you need to sign a paper to claim their assets.

Is it true that you also inherit their debts, as debt is considered an asset as well, meaning you get stuck with their bills, while they are rotting in the ground?


If not, then how does it work?

Sometimes a dead guy's assets will be charged for his debts and so his heirs would receive less, but it is not like if someone makes you one of their beneficiaries that means you have to pay their old bills out of your personal money you had before they died.

[Kidthorazine]

it really depends but usually you wont have to lose any of your money just whatever inheritance is owed so i would still sign a claim worse case is that you dont get anything but you donht lose anything but you stand more likely to gain something yeah