Life Goes On, The Caregiver

 originally published by AARP Magazine What Happens to Your Debts After You Die? When loved ones pass away there's way too much to handle in a short time: notifying others despite feelings of intense grief; funeral arrangements; living without the departed individual; keeping or dispensing with their possessions; a potential change in income and other financial matters. And this is a just  partial list . There's also the matter of the debts the person left behind, which raises a flurry of questions. Will they be forgiven somehow? If not, how are they to be paid? What if the liabilities exceed the assets? Who is responsible for them, and under what conditions? Will debt collectors come calling? It's complicated but not insurmountable. ( read the full article ) 1. The estate should cover most bills A person's financial obligations are not automatically forgiven once they've died. According to the Consumer Financial Protection Bureau, in most cases, any unpaid debts ar...

A friend recently mentioned this term to me and was concerned what it meant for elderly parents and their offspring — especially when there was a possibility of medical bills and long term care. So I did a bit of research and figured this is as good a topic as any, while this is not specific to strokes it covers a wide range of conditions. According to the online Merriam-Webster dictionary, Filial Piety (known as pinyin: xiào in Chinese) is: “ reverence for parents considered in Chinese ethics the prime virtue and the basis of all right human relations ”’ ideally this is not only respecting the parents but also accepting responsibility for them as they age. My friend’s concern was that she could inadvertently put a serious debt onto her children’s shoulders simply because she had given birth to them. So I did a little research… I went to Nolo.com  for information. Here is some of what was said, you can click the link if you want to read it in entirety: “ More than ...