After someone passes away, their debts are handled by the estate’s executor. The executor must inform creditors, settle outstanding debts from estate assets, and distribute any remaining assets to the beneficiaries. Jointly held debts may fall solely on the surviving debtor. While executors may sell assets to settle debts, certain assets like life insurance policies and RRSPs with named beneficiaries are exempt. Planning ahead and seeking...

Building a solid financial foundation starts with understanding your financial situation and setting achievable goals. Create a budget, establish an emergency fund, and prioritize saving for your future. Additionally, consider seeking professional financial advice to help you make informed decisions and navigate the complexities of personal finance.

In Canada, Bankruptcy can be a viable option for dealing with student loan debt. However, student loans are typically only discharged by filing an assignment in Bankruptcy if you've been out of school for seven years or more. If a Bankruptcy might not be feasible, alternatives like a Consumer Proposal offer negotiated settlements with creditors and can address your student loan debt. Consulting a Licensed Insolvency Trustee can help explore these...