What happens to your loans if you pass away?
in Banking, Insurance & Loans ·
If your debt outweighs the inheritance, just renounce it. You go to a notary, sign a waiver—though you should probably draft the language yourself so they don't overcharge you—and then you can finally breathe easy... Whenever the bank starts calling about it, you just show them that paper proving you didn't accept anything. Once that's done, they can't touch you. This goes for your kids and your spouse too.