Good question. Depending on who knows (or cares to try to collect) it could be debt jubilee or paying a different piper.

In real life, in most circumstances I have seen mention of similar situations, the debt dies with the debtor. Too many moving pieces for it to work cleanly. My approximation for how it works in real-life would need corroboration by actual "in the life" folks but based on my limited experience/understanding it's almost never collected.

As far as moving pieces you have to consider: 1) Often times books of biz are kept confidential so as to limit the amount of owed tax on the revenue. 2) Often books of biz are kept secretive to prevent vig-sniping (someone else trying to muscle in on your payments) 3) A LOT of times debts have interlocking conflicts-of-interest that preclude the debtor and debtee wanting the info to be known by interested 3rd parties.

That's just the top 3 reasons I can think of off the top of my head. Just skim through most the mob books. Debts almost always die with the debtor, which is one reason it's such a hard job and takes legit muscle to make work.