Everyone dreams of retirement, especially those who hope to retire early. Unfortunately, few of us make financial plans for retirement. The typical American family only has about $5,000 in retirement savings. Some Americans are fortunate enough to have a pension or an employer-sponsored 401(k) plan or smart enough to set up their own individual retirement account (IRA). For them, the concern is less about saving for retirement and more about how to manage retirement savings as part of an estate.

Trust fund kid. The term conjures up images of entitlement, snobbery, and pastel golf shirts. Daddy’s spoiled little brats account for only a little more than 1% of the U.S. population (there’s that maligned 1% again). When compared to the approximately 22% of Americans who inherited money, those who did so via a trust fund are an especially small minority.

Whether or not you believe in the afterlife, there’s one thing that can’t be disputed: debt after death lives on. Seventy-three percent of Americans die with some form of debt to their name, with an average debt of $61,554, including home loans, according to Credit.com.

While the deceased might escape the creditors, their survivors don’t. This can be a source of stress for survivors, but contrary to popular belief, family members are not responsible for paying outstanding debt in most cases. The exceptions are community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin, and Alaska) where a spouse can be held responsible for the debts of another.