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Debt Kills – #FLMonth

by Don Current on April 26, 2011

Jake from asks a pretty morbid question in today’s Financial Literacy Month question of the day. It’s not something that’s pleasant to think about, but you really should for the sake of your family.

Question: If you were to pass away while in debt would your…

A) Debt be forgiven
B) Heirs be responsible for the debt
C) Estate be responsible for the debt
D) Dreams of being Debt Free finally be “realized”

So what do you think? Are you prepared for it? There’s more to it than just the debt also. What about the lost income? What about any additional burial expenses? All of these things are part of a healthy estate plan and you really should give it some thought and get it in writing just in case the unthinkable happens.