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The wealthy (lemy.lol)

submitted 10 months ago by [email protected] to c/[email protected]

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

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[–] [email protected] 1 points 10 months 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.