My dad has 2 houses, and an insane amount of loans to pay back- when he dies, will the debt be thrown onto me?

i dont know how many outstanding loans and he gives me absolutely ZERO info on his finances, but i keep hearing "we have no money, we have no money, i had to take out a loan to pay for this"
what do i do to prevent a possible disaster scenario?

If your dad gets his loans from institutional lenders, like banks, they will never let anyone have more debt than they have assets. So as an example, if your dad has $100000 in loans, the banks will have been sure that his assets are worth at least $100,000 first before he gets the loan. That is called colateral. So when he dies, his estate (not you) sells his assets to retire the loans.
If he gets his loans from family or other unofficial sources then he could end up with more owing than what he owns. A grey area. Don't think that's your problem though. An estate lawyer can help you there.
IMHO!

You or your dad needs to get the insurance they have for home loans (and other types of loans too) that pays off the loan when he dies. It doesn't really cost that much, so if I were you I would even pay for it so you don't get stuck with all his debts. I do not know if you are legally responsible for his debts, I do know they are paid from his estate. Get the insurance!

NOPE ur dad's debt are not some thing u inherit.
however his 'estate' has to pay off his debts.
ur mom may become homeless.
u can suggest to mom that there is a problem ( there is) and they need finacial counseling.
unfortunatly they have to want to do it.

suggest u get 'total money make over' d.ramsey for ur own life and sanity.

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