When your parents die in debt, kids do not come first

There is an article in the Financial Post that talks about the fact that seniors often die with debts. The main point of the article is that the surviving spouse and kids are not responsible for the deceased's debts if the debts were only in the name of the deceased. Click here to read the article. 

While I found the article good over all, I have to add that I absolutely do NOT agree with the advice given by Murray Morrison. His quote seems to suggest that if your parent passes away leaving debts, you have the option of taking assets from the estate and spending them to bankrupt the estate. Don't do this. The law is clear that debts, taxes and expenses must be paid before the beneficiaries receive anything.