00:00coinage life well spent presented by geico while the old saying you can't take it with you is true
00:08when it comes to debt after you die you don't exactly leave it behind either typically it
00:14dies with you for the most part personal debt does not get passed on to surviving family members if
00:19you owed a ton of money before you died creditors usually have between two to six months to file
00:24claims against your estate to get with their own an estate is everything you left behind that has
00:28a monetary value if creditors file a claim and your state is used to satisfy prior debts it will
00:34cut into whatever you plan to leave behind your family the only time a family member a close friend
00:39can be responsible for your debt is if they happen to co-sign on any of your loans in most cases accounts
00:45such as IRAs 401ks insurance and employer-based pension plans won't be considered as your estate
00:50so they're safe from your creditors if you can it's best to get all of your affairs in order to make
00:55this tough time as easy as possible for the loved ones you leave behind coinage life well spent presented
01:04by geico
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