cosigner responsibility upon death

[jrbrown]

My mother, who lives in NY, is cosigner on both my sister's house in MA and on a major loan in NY. My mother has had to pay the mortgage for the past two years and my sister is constantly in default on the other loan. My mother has two annuities that she has put my name on as the only beneficiary. However, if she dies, will her entire estate, including the two annuities, have to be used to pay off her "debt" on my sister's house and loan before any division of the estate?

 

[ALawyer]

As a cosigner SHE is liable and if she dies her estate is liable. Thus the creditors of her estate would take BEFORE any of the estate assets could be distributed to beneficiaries.