When a loved one dies, they probably left a combination of assets and debts behind them. The executor of the estate will have the responsibility of identifying all assets and using them to pay off the debts that the deceased person had. If you believe that your loved one had a significant amount of debt, you may be worried that this will eat away at your inheritance. Even worse, you may be worried that you will inherit their debt.
In most cases, loved ones will not inherit debt, even if it is not settled by the assets in the estate. However, Louisiana is a community property state. This means that surviving spouses in Louisiana may be liable for their deceased spouse's debts. You must understand how to effectively deal with your loved one's debts after they pass away.