From: Harvey Newstrom (mail@HarveyNewstrom.com)
Date: Mon May 27 2002 - 05:13:57 MDT
On Sunday, May 26, 2002, at 11:05 pm, Dossy wrote:
> On 2002.05.26, Harvey Newstrom <mail@HarveyNewstrom.com> wrote:
>>
>> The concept of parents selling obligations to be paid by their kids is
>> very close to child slavery. I don't see how a free and open society
>> can enforce debts or obligations against anyone who didn't personally
>> agree to take on those debts and obligations.
>
> Maybe I'm mistaken, but in the US, if parents rack up debt and
> pass away (with insufficient life insurance to cover their debts)
> the kids (if any exist) are left paying the debts, no?
No. Children are not responsible for their parents' debts in the U.S.
It is true that the debts are paid out of the parents' estate before any
money is passed on to the children. But this is considered the parents'
money paying for the parents' debts.
-- Harvey Newstrom, CISSP <www.HarveyNewstrom.com> Principal Security Consultant <www.Newstaff.com>
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