Where does money to pay off debt, come from?

[Annuhree]

What is the name of your state? California
An unmarried man without a will, that has assets (successful business and possible monetary accounts) and debt (credit card, autos et.),purchases a home with girlfriend two years ago. She says that each has made the other the beneficiary. She has not shown any proof of this fact when questioned about it, by the man's only heirs, his two children. They have been told that they should not go into probate, by this woman, because the man's debt may rule out assets and they would be left with nothing. They feel intimidated by this woman and are hoping that she will do the right thing and give them their inheritance if there is any.
If man made girlfriend beneficiary on his house, does it along with purchases of furniture and other household items that man recently purchased on his credit cards, become exempt when paying off man's debt? Man's girlfriend has made man's heirs feel that anything at man's jointly owned home is not included in his estate. Which money, if there is any, is used to pay off debt?Where does man's business come into play?How does probate work?

 

[BlondiePB]

What is the name of your state? California
An unmarried man without a will, that has assets (successful business and possible monetary accounts) and debt (credit card, autos et.),purchases a home with girlfriend two years ago. She says that each has made the other the beneficiary. She has not shown any proof of this fact when questioned about it, by the man's only heirs, his two children. They have been told that they should not go into probate, by this woman, because the man's debt may rule out assets and they would be left with nothing. They feel intimidated by this woman and are hoping that she will do the right thing and give them their inheritance if there is any.
If man made girlfriend beneficiary on his house, does it along with purchases of furniture and other household items that man recently purchased on his credit cards, become exempt when paying off man's debt? Man's girlfriend has made man's heirs feel that anything at man's jointly owned home is not included in his estate. Which money, if there is any, is used to pay off debt?Where does man's business come into play?How does probate work?

Until someone, like one of your adult children, opens probate, all you have are "ifs and NO documentation to prove who is entitled to what which will be discovered when probate is opened. Debts are paid by the estate.


Note: Poster's other thread https://forum.freeadvice.com/showthread.php?t=310597

 

[nextwife]

As stated, FIRST probate should be filed.

If he has assets that will pass into his estate, and debts, his assets should be used to pay off those debts . If anything is then left it will pass to his heirs either in accordance with his will, or intestate laws of his state. Heirs don't get to just keep the assets (presuming these are estate assets and not Jt. Tenant or POD accounts) and ignore the creditors.