Credit card debt doesnt follow you to the grave. Rather, after death, it lives on and is either paid off through estate assets or becomes the responsibility of a joint account holder or cosigner.
In nine community property states, debts acquired during a marriage are the responsibility of the community or, in laymans terms, the couple even if only one spouse is listed on the account.
When the estate loses, beneficiaries lose
Even if youre not held personally liable for the debt on a credit card, youll feel the effects of it if youre a beneficiary of an estate. Thats because any debts are paid from the estate before designated beneficiaries receive any distributions. In other words, any debts left behind after a loved one dies can quick…
Read the full article at: https://www.bankrate.com/finance/credit-cards/death-inherits-credit-card-debt/