Skip to content
  • What happens to your debt after you die?

    Yahoo! Finance - 12/15/2015

    The general rule of thumb is that if your loved one has a lot of debt, and there’s plenty of money to pay it off, the debt will be paid off, according to Tim Gagnon, a professor of accounting at the D’Amore-McKim School of Business at Northeastern University in Boston.

    “If a person dies with massive debt but sufficient assets to cover the debt, then the personal representative must liquidate assets to pay the debts before anyone inherits any assets,” Gagnon says.


  • Cookies on Northeastern sites

    This website uses cookies and similar technologies to understand your use of our website and give you a better experience. By continuing to use the site or closing this banner without changing your cookie settings, you agree to our use of cookies and other technologies. To find out more about our use of cookies and how to change your settings, please go to our Privacy Statement.