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 -最西邊的島上- 給 最西邊的島上 發送悄悄話 最西邊的島上 的博客首頁 (0 bytes) () 10/06/2024 postreply 07:36:17

我們全家聊天時,我妹妹開玩笑:誰還能死個可丁可卯的? 我看如果留不下什麽還不如揩政府點油再走 -移花接木- 給 移花接木 發送悄悄話 移花接木 的博客首頁 (167 bytes) () 10/06/2024 postreply 08:09:22

敢揩政府的油?膽大包天 ;-)but that's likely return of what takenAway bf -最西邊的島上- 給 最西邊的島上 發送悄悄話 最西邊的島上 的博客首頁 (0 bytes) () 10/06/2024 postreply 08:23:28

so her joke has my backing (joking;-)) -最西邊的島上- 給 最西邊的島上 發送悄悄話 最西邊的島上 的博客首頁 (0 bytes) () 10/06/2024 postreply 08:27:07

On the other hand: 父債子償,租住連坐:-) -7grizzly- 給 7grizzly 發送悄悄話 7grizzly 的博客首頁 (0 bytes) () 10/06/2024 postreply 08:48:34

錯了。是“族誅連坐”。 -7grizzly- 給 7grizzly 發送悄悄話 7grizzly 的博客首頁 (0 bytes) () 10/06/2024 postreply 08:49:25

誒,不是“誅滅九族”嗎? ;-)) -最西邊的島上- 給 最西邊的島上 發送悄悄話 最西邊的島上 的博客首頁 (0 bytes) () 10/06/2024 postreply 09:06:39

那是犯大事兒了。 -7grizzly- 給 7grizzly 發送悄悄話 7grizzly 的博客首頁 (0 bytes) () 10/06/2024 postreply 09:20:15

Yes, in China -移花接木- 給 移花接木 發送悄悄話 移花接木 的博客首頁 (0 bytes) () 10/06/2024 postreply 14:09:04

但血濃於水中外通用。中國還曾有世襲,接班一說。 -7grizzly- 給 7grizzly 發送悄悄話 7grizzly 的博客首頁 (0 bytes) () 10/06/2024 postreply 16:21:34

So,no need to worry about debts~:) -妖妖靈- 給 妖妖靈 發送悄悄話 妖妖靈 的博客首頁 (0 bytes) () 10/06/2024 postreply 10:55:34

But those who stop paying property taxes would leave -妖妖靈- 給 妖妖靈 發送悄悄話 妖妖靈 的博客首頁 (0 bytes) () 10/06/2024 postreply 10:57:13

no property to their spouses and kids even though they -妖妖靈- 給 妖妖靈 發送悄悄話 妖妖靈 的博客首頁 (0 bytes) () 10/06/2024 postreply 10:58:27

have paid 80% of the mortgages :) -妖妖靈- 給 妖妖靈 發送悄悄話 妖妖靈 的博客首頁 (0 bytes) () 10/06/2024 postreply 10:59:08

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

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