Most civilized countries allow you to refuse your inheritance. They cannot just force debt on you.
If you inherited debt you got scammed
My neighbor inherited the house he grew up in. He passed away and his grandson got the house. Turns out his grandfather took out a loan against the house and blew all of the money at the casino. His grandson is now paying for a house that was paid off fifty years ago
So he didn't inherit the house, not quite.
In the US you can give it up to not get the debt. Would have just gotten nothing. Probably was still a better deal than going elsewhere. Or the grandson was just too sentimental about keeping the house.
😕✋ family gambling debt
😏👉family gambling addiction
You don't inherit another person's debt. Skeezy collectors can call and pester you, but they can't take action.
Don't you inherit debt if you also inherit assets in excess of the debt?
"Double it and give it to the next of kin"
It's a family tradition, that makes it okay.
Even the capitalist dystopia of America doesn't have inheritance debt.
Only partly true there I’m afraid. Pennsylvania allows for children to be responsible for medical and long term care bills from their parents under a filial support law:
https://www.legis.state.pa.us/cfdocs/legis/LI/consCheck.cfm?txtType=HTM&ttl=23&div=0&chpt=46
PA is only purple on the side that faces the rest of the country.
At state government level, it's a special breed of the worst aspects of both parties.
What country are you in that you can inherit debt?
Could be indirectly inheriting the debt. They could've taken out a new/second mortgage to cover their gambling debts, for example. Sure, the kid could refuse the inheritance to avoid being stuck with that, but then they're still out a house they otherwise would've had if not for their parents debts.
That is just mis-spending the money you should have left behind with extra steps.
updatedgambling debt ..... aka as the mismanaged family business
