Debt can be extremely scary especially if you are worried about leaving your financial mistakes to your children. Luckily, in most situations, your heirs will not be responsible for taking on your debt outside of the value of your estate. Unfortunately, you may end up leaving your heirs to deal with a probate mess and little or nothing left as an inheritance.
Luckily, there are other avenues you can use if your concerned about leaving an inheritance to your heirs. This can be done through employer-sponsored retirement accounts such as a 401k or an IRA.
In addition, life insurance policies are a great way to leave a financial legacy to your heirs without leaving the money exposed to your lenders.