15. "If the estate has NO value though....what happens there??" In response to In response to 14
That's what gets me... There's this misconception that old people have assets no matter what. The economy crash hit folks HARD. Dad was laid off of a job he had 30+ years but due to technicalities had no pension or anything from it....within that year he had triple bypass surgery, cancer and it's just be a steady downhill slide since then (over 8 years ago). Mom pretty much same boat health wise...if it's cancer, she got it....and the bills that go along with it. They live in NC....probably refinanced their house sometime in the last 5 years...and likely took out any minuscule amount of equity that they had it...and it's very likely that they owe a considerable more than the house is worth.
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