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When your parents die broke

This article examines when parents pass away and who is left with the responsibility of existing debts.  For the most part we don’t find many people in this situation but in the last few years we have run across it several times.  One of the most surprising takeaway’s from the article is that “nearly half of seniors die owning less than $10,000 in financial assets.”  Also, 23% of people older than 75 have mortgages on their home.   With health care costs skyrocketing, we feel that this is a situation that we will come across more and more over the next few decades.  The article gives some good advice if you ever are put in a situation like this. 03.19.18