Parents’ debts – how to avoid them?

Are you wondering what happens to parents’ debts? It so happens that parents’ debts are the subject of this text.
Regarding the details, probably many people are unaware of the situation (and awareness is always important). Whatever you say, a lack of knowledge is asking for problems.

Children’s responsibility for parents’ debts


It is possible that you are asking yourself, are the children responsible? There is no doubt that this is a very important question to think about.
The facts are that children do not have to pay their parents’ debts (there is no legal basis). Someone may ask, where does this come from?

You must definitely refer to the property community. A property community is a topic that is known quite well (or at least one can risk that statement).
If you do not know what is meant by a property community, it is enough to remember one information – the husband and wife are responsible for the financial activities of the other person. As for the relationship between the child and parent, this is not the case.
It is also worth emphasizing that not everyone acts in accordance with the law. Are you wondering how this should be understood? The answer is simple – the creditor may use ignorance of the regulations.

It should also be mentioned that we often deal with various exceptions and the parents’ debts prove this. Do you guess what situations it could be? To put it simply – the following situations must be distinguished:

  • parent’s loan guarantee,
  • unconscious assumption of parents’ debt,
  • the death of parents.

Let’s stop at the unconscious assumption of debt, there is nothing to hide that this is a topic that can raise a lot of doubts. In short, it is about assuming debt and receiving a valuable item.
Let’s move to death, although the matter is simple – the death of parents means that children become heirs (of property and/or debt).

Can you relinquish your parents’ debt?

Can you relinquish your parents

Perhaps the question arose whether you can not accept the debt? If you are thinking about avoiding debt, you must make a written statement (waiver declaration).

As you probably guessed, the time to make a statement is somehow limited. In short – you have 6 months to make such a statement (the time is counted from the moment you learn about the death of the testator).

It is also worth referring to where you can make a statement. According to the law, there are two options – a visit to a notary public or a visit to a civil court.

Renunciation of an estate before death?

Interestingly, renunciation of the estate is possible even before the death of the testator. As for details, it is enough to conclude a contract in the form of a notarial deed. Important – both sides must appear at the notary. Both sides, i.e. the testator and the person who can inherit something.

As far as the impact of such a contract is concerned, it is not that only one person is securing himself. The agreement automatically protects children, grandchildren or great-grandchildren (if you want it to be different, there is one condition – consent of the testator).

Leave Comment

Your email address will not be published. Required fields are marked *