I’m the sole heir to a broke aunt — does this mean I’ll inherit her debts and ru

While inheriting a ton of money can improve your financial situation, not everyone who dies has a fortune to leave behind. So what happens if you are the sole heir to someone who is in debt and owes more than their estate is worth? Can you inherit their financial burdens?

Around 66% of Americans either expect they will receive an inheritance or have already received one from their parents, according to a study by Choice Mutual (1). Among those expecting to inherit, the average expected amount is $334,850. But the reality may be quite different from that for many people.

Let's take the case of Todd, who is in his 30s and whose aunt, in her 70s, is dying of cancer. Todd was close to his aunt, and she's already told him he will be her only heir, as well as the executor of her estate. Unfortunately, her estate consists of a run-down house with a mortgage and tens of thousands of dollars in credit card debt.

Todd's aunt is trying to add his name to the deed of the home, and she's drawn up estate planning documents already. But Todd is worried he could be on the hook for her debt, and is concerned about what to do with the house, which is in poor shape.

Will Todd's finances be at ris

Fuente original: Yahoo Finance (https://finance.yahoo.com/small-business/articles/m-sole-heir-broke-aunt-123500773.html)