APAD: Death pays all debts

Death pays all debts: 

Death absolves one from any financial or moral obligation they may have had in life. It implies that when a person dies, all their debts are considered paid, and they are no longer accountable for them.

When someone dies, their debts are generally paid out of the money or property left in the estate. If the estate can’t pay it and there’s no one who shared responsibility for the debt, it may go unpaid. For survivors of deceased loved ones, including spouses,  there is no responsibility for their debts unless there is shared legal responsibility.

I saw, here, some elderly people would stop paying their property taxes for better life quality during their last years of independency.  The government would retrive the debt through acquiring the properties after their death or losing self-care abilities. In the mainstream of all culcures, the current generation would not purposely exhaust its property in lifetime but to accumulate as much to the next ones.  

 

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ManyWish 2SpendAll bf death, but noOneKnows when it'll come -最西边的岛上- 给 最西边的岛上 发送悄悄话 最西边的岛上 的博客首页 (0 bytes) () 10/06/2024 postreply 07:36:17

我们全家聊天时,我妹妹开玩笑:谁还能死个可丁可卯的? 我看如果留不下什么还不如揩政府点油再走 -移花接木- 给 移花接木 发送悄悄话 移花接木 的博客首页 (167 bytes) () 10/06/2024 postreply 08:09:22

敢揩政府的油?胆大包天 ;-)but that's likely return of what takenAway bf -最西边的岛上- 给 最西边的岛上 发送悄悄话 最西边的岛上 的博客首页 (0 bytes) () 10/06/2024 postreply 08:23:28

so her joke has my backing (joking;-)) -最西边的岛上- 给 最西边的岛上 发送悄悄话 最西边的岛上 的博客首页 (0 bytes) () 10/06/2024 postreply 08:27:07

On the other hand: 父债子偿,租住连坐:-) -7grizzly- 给 7grizzly 发送悄悄话 7grizzly 的博客首页 (0 bytes) () 10/06/2024 postreply 08:48:34

错了。是“族诛连坐”。 -7grizzly- 给 7grizzly 发送悄悄话 7grizzly 的博客首页 (0 bytes) () 10/06/2024 postreply 08:49:25

诶,不是“诛灭九族”吗? ;-)) -最西边的岛上- 给 最西边的岛上 发送悄悄话 最西边的岛上 的博客首页 (0 bytes) () 10/06/2024 postreply 09:06:39

那是犯大事儿了。 -7grizzly- 给 7grizzly 发送悄悄话 7grizzly 的博客首页 (0 bytes) () 10/06/2024 postreply 09:20:15

Yes, in China -移花接木- 给 移花接木 发送悄悄话 移花接木 的博客首页 (0 bytes) () 10/06/2024 postreply 14:09:04

但血浓于水中外通用。中国还曾有世袭,接班一说。 -7grizzly- 给 7grizzly 发送悄悄话 7grizzly 的博客首页 (0 bytes) () 10/06/2024 postreply 16:21:34

So,no need to worry about debts~:) -妖妖灵- 给 妖妖灵 发送悄悄话 妖妖灵 的博客首页 (0 bytes) () 10/06/2024 postreply 10:55:34

But those who stop paying property taxes would leave -妖妖灵- 给 妖妖灵 发送悄悄话 妖妖灵 的博客首页 (0 bytes) () 10/06/2024 postreply 10:57:13

no property to their spouses and kids even though they -妖妖灵- 给 妖妖灵 发送悄悄话 妖妖灵 的博客首页 (0 bytes) () 10/06/2024 postreply 10:58:27

have paid 80% of the mortgages :) -妖妖灵- 给 妖妖灵 发送悄悄话 妖妖灵 的博客首页 (0 bytes) () 10/06/2024 postreply 10:59:08

Pay off the liens and they're still eligible to inherit -移花接木- 给 移花接木 发送悄悄话 移花接木 的博客首页 (0 bytes) () 10/06/2024 postreply 14:08:16

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