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life insurance & probate

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rebelmal

Guest
What is the name of your state? Texas
I am executrix of my dad's estate. My mom passed away almost a year ago and she had $50,000 in credit card debt. Dad told all creditors that he was not responsible for her debt because it was "special community debt", per his lawyer. Mom got these cards when she had a small business. He also never probated mom's will, which was exactly like his.
Dad passed away in June and I have taken care of his debt, that was about $16,000. We are going to receive his life insurance -that was left to the estate- since mom had died....who was the primary beneficiary. Am I liable for mom's debt out of the money dad left us from his life insurance? There is a house left that I am trying to sell at this time. Dad owed $80,00 on it and I hope we will make about $30,000 on it.
Please advise!
rebelmal
 


Dandy Don

Senior Member
Is the company owed the $50,000 of your mother's credit card debt--are they currently asking for payment of this amount or not? If they are not asking for payment, then forget about this matter entirely since unfortunately it will have to remain unpaid since her estate could not afford to pay it. Don't let them know under any circumstances that you have received money from your father's estate or they will come after you to pay.

You can use the life insurance money from your father's estate anyway you want and are not responsible for paying off your mother's debt.

Is there a typo in your message--are you saying your dad owed $8,000 on the house or is it $80,000?
 
R

rebelmal

Guest
probate & credit card

Dandy Don,
My mother had several credit card companies she owed to, not just one. I think there was about 8 of them.
My Dad owed $80,000 on the house because of equity loans he took out for him & mom to live these past few years.
No one has contacted us in awhile about Mom's credit cards. I did talk to one about 3 weeks ago and told them there was no money and that my Dad had passed away too. I have not heard from them.
Thanks,
rebelmal
 

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