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Abstract
Two and a half million of the seventy-four million living baby boomers turned age 73 in 2019. It is especially important for these baby boomers who do not have estate plans, such as a living trust and a last will and testament, to get up to speed on estate planning. An essential part of the estate plan is the management of financial debts that may outlive you because the debts do not simply disappear after death. Failure to deal with these debts can put unexpected financial burdens on your spouse and family. This paper discusses what happens to debts after death. Living trust, and last will and testament are also briefly discussed.