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personal representatives legal obligations

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Jessimo

Guest
From Florida. My mother passed away on 2/04/01 and had named me as personal representative. She had medicaid insurance and a supplimentals insurance. I am on a checking account with her with a balance of about $900. She has a car loan with a balance of about $2500 with ONLY her name on the car loan. This payment comes out of her checking account monthly as an auto debit. The home she lived in had an aggreement with her brother in law to live there rent free until her death so she had no real estate property and the contents of her trailer was not anything of value. Im not sure what the estate is responsible for which is only $900 and i know there will be medical bills coming soo. She had and insurance policy which pays for the funeral and a small life insurance policy listing 5 children as beneficiaries. Will her debts be required to be paid out of that and what do we do with the automobile. We were going to just let the bank take it back but am not really sure. I have excellent credit and am concerned the creditors will try to collect payments from me personally. Any Advice




[Edited by Jessimo on 02-10-2001 at 11:32 PM]
 


ALawyer

Senior Member
Unless the kids signed for her, or otherwise assumed or guaranteed the liabilities, they'll be written off. As for the car, tell the company that financed it.

If there are assets of value they have to be used to pay off the debts. USUALLY the insurance, if not a cash value policy, goes to the beneficiaries.
 

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