Estate Management

Question 1

T or F

Debts of the decedent are generally debts of the estate, but not of the heirs.

Answer 1

True

Question 2

Which of the following loans are forgiven at death?

Private student loans

Federal student loans

Mortgages

Credit card

Answer 2

Only Federal student loans

Question 3

If you are married and take out a loan, of if you have consigner on all loan, how is the debt handled at death?

Answer 3

The spouse is often responsible for repayment of the loan. A consigner is always responsible for a loan.