Senior Debt

A sum of money that is owed or due.

Debt Articles

  • As parents age and require increased levels of care, adult children offer wonder if they are responsible for payment of their parents medical bills and increasing debt.

  • Many adult children are unaware of their parents’ financial situation until they step in to help manage money or begin the probate process. If you find that a parent has racked up some debt, it’s normal to wonder if you may be on the hook for repayment.

  • Many adult children and caregivers are concerned about how their parents' debts will be handled once they pass. For parents who are in long-term care facilities, there may be some states where children might be responsible for their bills.

  • Putting an elder on a budget can be tricky, especially if they rely on a fixed income. Learn how to evaluate their assets and expenses and develop a monthly budget.

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