Responsibilities of Beneficiary (TOD)

[David Mc]

What is the name of your state (only U.S. law)?
Kansas

My wife (deceased) named my stepdaughter as her beneficiary on her bank account.
I have discovered loan accounts I didn't know about and did not sign to.
They are in my wife's name only.

Who is responsible for those loans?
Who can deal with the lenders?

 

[Just Blue]

What is the name of your state (only U.S. law)?
Kansas

My wife (deceased) named my stepdaughter as her beneficiary on her bank account.
I have discovered loan accounts I didn't know about and did not sign to.
They are in my wife's name only.

Who is responsible for those loans?
Who can deal with the lenders?

Sorry for your loss.

The estate your wife had should pay her outstanding bills.

 

[David Mc]

Sorry for your loss.

The estate your wife had should pay her outstanding bills.

I understand, but my stepdaughter has control of part of the estate.

 

[Zigner]

I understand, but my stepdaughter has control of part of the estate.

No, if she (steddaughter) was the named beneficiary on the accounts, then the money is hers and not part of the estate.

 

[LdiJ]

I understand, but my stepdaughter has control of part of the estate.

Actually no, that money passed to her daughter outside of her estate. Its her daughter's money at this point.

Did your wife have any other assets?

 

[David Mc]

Actually no, that money passed to her daughter outside of her estate. Its her daughter's money at this point.

Did your wife have any other assets?

I'm still collecting information but at this point the answer is "no", other than real property.

 

[Zigner]

I'm still collecting information but at this point the answer is "no", other than real property.

The real property may need to be sold to satisfy her debt.