What is the name of your state? WA
My father passed away last month, leaving only a small life insurance plan and IRA. He owned nothing of any monitary value, except for a 1990 Ford Ranger. I do believe that he has over $47,000 in collections ($25,000 medical bills, $22,000 credit card bill), but only a total of $32,000 between the life insurance and IRA. I am the beneficiary of both, but am unsure of whether the collection agencies can collect on these. I've heard it both ways, that they are not part of an estate and cannot be taken away from me, and that the IRA can be drained by them, but they can't touch the life insurance. I'm so confused about all of this. Should I contact a lawyer? Please help!
A last minute add on.
My father did not have a will, but as I said earlier, he owned nothing but a truck. He lived with his dad whom he took care of.
My father passed away last month, leaving only a small life insurance plan and IRA. He owned nothing of any monitary value, except for a 1990 Ford Ranger. I do believe that he has over $47,000 in collections ($25,000 medical bills, $22,000 credit card bill), but only a total of $32,000 between the life insurance and IRA. I am the beneficiary of both, but am unsure of whether the collection agencies can collect on these. I've heard it both ways, that they are not part of an estate and cannot be taken away from me, and that the IRA can be drained by them, but they can't touch the life insurance. I'm so confused about all of this. Should I contact a lawyer? Please help!
A last minute add on.
My father did not have a will, but as I said earlier, he owned nothing but a truck. He lived with his dad whom he took care of.
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