I am not a lawyer and do not practice law, laws and practices vary by state and by country so please contact a lawyer to discuss this further.
That being said, I do work as a loan officer for a credit union so I will say what I do know. Loans are typically paid by the estate, if there are not enough funds in the estate then the loan will typically be charged off by the lender. If there is a coborrower to the loan then they will still be responsible for paying it in full. Any joint holder of a credit card would similarly be responsible for paying the debt. Collections can absolutely still contact you about a deceased debt, but they cannot imply you are responsible for it nor harass for you it.
Again, this is general and typical procedure but it can vary. I would advise you to consult a lawyer and look up your local laws regarding.
Also, you have to a good reason for taking out a large loan and have the budget and credit history to back it up. You aren't just going to get a ton of money in cash to give away without a solid application.