What is the name of your state (only U.S. law)? Virginia
My mother-in-law died in January, 2004. At that time she had no assets and therefore had an insolvent estate. She had a bunch of credit card debt and possibly doctor/hospital bills. Prior to her death I was her POA and I received all mail. About a year or so after her death I received one of those "class action" lawsuit mailings and was tempted to throw it away. I contacted an attorney and learned that she was in fact entitled to funds and that suit had to be filed by her administrator. I qualified in October 2006 as the administrator. After reviewing her claim, it was settled for approximately $137,000, which after attorney fees and repayment to Medicare, the estate received approximately $35,000 in August, 2009. There was a tax issue with IRS which I have now settled.
According to VA, I must pay her debt (after paying all taxes) before any beneficiary can receive funds. My question is how do I determine what her debts are since this was so long ago? I have pulled a copy of her credit report and it is very hard to read as some items were prior to her death which I believe was included in a bankruptcy she did in 1999 (still showing on it) and others have been listed as closed/paid/charged off/repossession/deceased, etc. I'm not sure if the estate is still responsible due to a statue of limitation or since no claim was made.
Any help you can provide would be most helpful.
BrigitteWhat is the name of your state (only U.S. law)?
My mother-in-law died in January, 2004. At that time she had no assets and therefore had an insolvent estate. She had a bunch of credit card debt and possibly doctor/hospital bills. Prior to her death I was her POA and I received all mail. About a year or so after her death I received one of those "class action" lawsuit mailings and was tempted to throw it away. I contacted an attorney and learned that she was in fact entitled to funds and that suit had to be filed by her administrator. I qualified in October 2006 as the administrator. After reviewing her claim, it was settled for approximately $137,000, which after attorney fees and repayment to Medicare, the estate received approximately $35,000 in August, 2009. There was a tax issue with IRS which I have now settled.
According to VA, I must pay her debt (after paying all taxes) before any beneficiary can receive funds. My question is how do I determine what her debts are since this was so long ago? I have pulled a copy of her credit report and it is very hard to read as some items were prior to her death which I believe was included in a bankruptcy she did in 1999 (still showing on it) and others have been listed as closed/paid/charged off/repossession/deceased, etc. I'm not sure if the estate is still responsible due to a statue of limitation or since no claim was made.
Any help you can provide would be most helpful.
BrigitteWhat is the name of your state (only U.S. law)?