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#1
10-24-2002, 03:19 PM
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Trustee Credit Card PaymentCalifornia. When a trustee dies is anyone legally responsible for paying that persons bank credit card? |
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#2
10-24-2002, 05:10 PM
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| Can you clarify what you mean by 'trustee' please ? When a person dies, his/her debts are paid out of the estate (if there is one). If there is no estate, the creditor is out of luck. Unless there was a co-signer (joint account) on the card, then NO ONE else can be forced to pay the deceased's debts.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
10-25-2002, 12:27 PM
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| Thank you for your reply. More info: A woman died with a Trust, naming me as Successor Trustee. The only asset in this Trust is a home. Not in the Trust: an $800 life insurance policy with me as beneficiary, CD's with another person as beneficiary. She left an $8,000 Mastercard Debt on which she was paying minimum payments. I have been paying bills out of my pocket for other debts she left. Am I legally obligated to pay this Mastercard bill? If so, how should I properly handle it? Do I wait until/if the house is sold? P.S. You wrote: "Unless there was a co-signer (joint account) on the card, then NO ONE else can be forced to pay the deceased's debts." Does this include me? Thanks for the guidance! Bev |
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#4
10-25-2002, 12:40 PM
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| Ok, I'm not a lawyer, and maybe one of our resident legal eagles can check me on this  While I don't know anything about Trusts, my inclination is to say that NO, you are NOT liable for the credit card bill if you were not a co-signer on the card. I don't think you being the Successor on the trust has any bearing on that debt. As I said, normally a deceased's debts are paid out of the estate BEFORE anyone else gets anything, but I also believe the creditor must put in a claim against the estate to get the money. In many states, there is a definite time limit to make such claims. What I do NOT know is how the Trust affects the assets of the estate, which is the house. The other assets, like the life insurance policy, are probably vulnerable and MAYBE the CD's. You might want to consult with the lawyer who handled the Will. Resident lawyers .. pipe in here
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#5
10-25-2002, 12:54 PM
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| Thank you for your suggestions! Bev |
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