Paying the Debts of Family Members

“Am I obligated to pay the debts of my spouse, child or other family member?”  I see or hear someone ask this question often.   Baby boomers confront this more and more with elderly parents who may die owing medical bills or money on credit cards or car loans.  Parents may wonder if a child’s debt can become their own.  I have investigated and have some thoughts on these issues.  In many cases, the answer to the question depends on the nature of the obligation or debt. Read more