You owe your parent care, but not your life. Having sacrificed your own needs to another's demands suggests that you could benefit from learning how to speak up for yourself. The skill will serve you well as you move forward.
You are no longer that child who has to do as you are told. Help your parents out because you want to not because you feel a duty to. Your parents had a duty to care for you when you were young but it doesn't necessarily follow that you have to return the favor when you are an adult and they are frail and vulnerable.
Generally, in the US, debt is not inherited. You don't need to tell your parents anything. Any debt remaining after they pass away will be paid from their estate. If there's any debt remaining unpaid after that, then there's nothing further to be done. Heirs don't owe anything when someone dies in debt*.
No, it is not your duty. If your parents were decent parents and treated you well, it would be nice of you to help them out but every individual is responsible for themselves. And that includes planning financially for when you are old and can no longer work.
The general rule is that children are not legally responsible for their parents. There are two important exceptions. First, if you are a co-signer or guarantor for your mother or father, you can be held personally responsible for that obligation. The other exception is if you have a joint bank account.
In the United States, each state has its laws requiring children to take care of their elderly parents. In 30 states, an adult is liable for their old parents' care after they are unable to care for themselves. However, the statute establishing this filial obligation has never been implemented in 11 of these states.
You generally aren't responsible for your deceased parents' consumer debt unless you specifically signed on as a co-signer or co-applicant.
Medical debt and hospital bills don't simply go away after death. In most states, they take priority in the probate process, meaning they usually are paid first, by selling off assets if need be.
Adult children typically don't have to pay their parents' bills, but there are exceptions. And even when a child doesn't have to pay directly, debt could reduce what they inherit. Debt doesn't simply disappear when someone dies, Whitty explains.
They do not expect you to pay them back. However, if they need help from you as you age, you should give them the love and support they need with dignity and grace as they did for you. Nobody expects you to spend money you do not have, but you can help find the programs and agencies to provide the needed help.
I will contend that the answer is “nothing.” Although I agree that there are many things that childrenoughtto do for their parents, I will argue that it is inappropriate and misleading to describe them as things “owed.” I will maintain that parents' voluntary sacrifices, rather than creating “debts” to be “repaid,” ...
Practice Gratitude Instead Of Guilt
Escaping the mindset of indebtedness is difficult, especially if you've been raised with the idea that you owe everything you have to your parents. However, it is necessary to work through this faulty conviction in order to find happiness and fulfillment in life.
We owe our parents our respect—not be- cause they are always right, but simply because they are our parents. That basic truth was em- phasized long ago in the Ten Commandments: “Honor your father and your mother, that your days may be prolonged in the land which the Lord your God gives you” (Exodus 20:12).
God's heart isn't about punishing people. This verse makes clear that God does not punish children for their parents' sins. God does not punish a new generation for the sins of a former generation. But God does hold children who don't learn from their parents' mistakes accountable.
You're equally related to your parents and siblings - but only on average. It's often said you're equally genetically related to parents as (full) siblings: your 'relatedness' is a half. That means the chance that a bit of your own DNA is shared with your mother (by inheriting it from her) is 1/2.
If you contact the bank before consulting an attorney, you risk account freezes, which could severely delay auto-payments and direct deposits and most importantly mortgage payments. You should call Social Security right away to tell them about the death of your loved one.
Bottom Line. You are not responsible for your parent's debt. Any debt that they held is managed through the estate, and then disposed of. However, if you choose to take out a joint loan with your parents while they're alive or to assume a burdened asset from their estate, you can voluntarily take on their debt.
Types of debt that cannot be discharged in bankruptcy include alimony, child support, and certain unpaid taxes. Other types of debt that cannot be alleviated in bankruptcy include debts for willful and malicious injury to another person or property.
Most filial laws require you to support your parents' basic living needs. These can include food, medical bills (mental and physical), housing, and additional care they receive, such as stays at nursing homes.
If there's no money in their estate, the debts will usually go unpaid. For survivors of deceased loved ones, including spouses, you're not responsible for their debts unless you shared legal responsibility for repaying as a co-signer, a joint account holder, or if you fall within another exception.
You owe your parent care, but not your life. Having sacrificed your own needs to another's demands suggests that you could benefit from learning how to speak up for yourself. The skill will serve you well as you move forward.
The Family Code makes it clear both parents have an equal responsibility to support a child “of whatever age who is incapacitated from earning a living and without sufficient means.” The California Legislature has not limited the application of the state child support guidelines to minor children.
Parentification occurs when parents look to their children for emotional and/or practical support, rather than providing it. Hence, the child becomes the caregiver. As a result, parentified children are forced to assume adult responsibilities and behaviors before they are ready to do so.
Criminal penalties: In some cases, refusing to support your indigent parent may be considered a misdemeanor offense in California. If convicted, you could face up to a year in county jail and a fine of up to $2,000.