Neither you nor your brother are personally responsible or liable for the debts incurred by your parents during their lifetime...unless of course either of you co-signed for any of the aforementioned debts.
But don't get too happy yet. Your parents' estate, the assets they leave upon death - such as home/property, vehicles, cash, life insurance, material possessions - are subject to be liquidated in order to satisfy any debts left (not neccessarily everything, but at least what is needed to pay off the creditors and lenders).
So, if you and your brother want to make sure everything your parents have are left for both of you, encourage your parents to either pay off all their debt or carry good life insurance policies. Images available only to Customers.