What would happen to my assets and my debts if I pass away?
I filed for bankruptcy this year and I am already near my 60's where anything could happen. I've always wondered what would happen to my assets in the bankrupt estate or my remaining debts in case something bad happens to me and I pass away, hoping that this doesn't happen to me and that I live a longer life.
Hoping that you live for the longest time possible, should you pass away, your yestate (different from bankruptcy estate), assets, money, property etc.. distributed to persons who will inherit them would be subject to the funeral, testimony and administration expenses and the OA will continue managing the bankrupt estate to pay off your debts to the creditors. Therefore your death will not discharge you of your debts.