Beneficiary question

[jhstiff]

What is the name of your state? PA

My sister and I are the beneficiaries of my mothers life insurance policy. She was re-married a few years back, and still married to her second husband. Are my sister and I responsible for her outstanding debts, since we are the beneficiaries, or is her husband?

Thanks.

 

[moburkes]

What is the name of your state? PA

My sister and I are the beneficiaries of my mothers life insurance policy. She was re-married a few years back, and still married to her second husband. Are my sister and I responsible for her outstanding debts, since we are the beneficiaries, or is her husband?

Thanks.

Her estate is responsible for her debt. A beneficiary is not, unless the estate is the beneficiary. You have nothing to do with her debt. However, she is allowed to change the beneficiary of her policy to her husband or anyone else before she dies.

 

[jhstiff]

How is it determined who is responsible for the estate? My mother has already passed, just over 2 weeks ago, and her husband is sending creditor calls my way, while I am sending them his way, I always assumed that her husband would be responsible, is that correct?

 

[moburkes]

How is it determined who is responsible for the estate? My mother has already passed, just over 2 weeks ago, and her husband is sending creditor calls my way, while I am sending them his way, I always assumed that her husband would be responsible, is that correct?

You aren't responsible. He is simply misinformed about what happens after a person dies. Simply explain to the creditors that your mom has passed, but that you aren't responsible for her estate. Refer them back to her husband. I don't know who is responsible. Did she have a will?

Sorry about your mom, by the way.

 

[Betty]

If you & your sister are the beneficiaries of your mom's life ins. policy, the proceeds are yours & your sisters to do with as you wish. The proceeds are not part of your mom's estate and, therefore, cannot be seized by creditors of your moms. The creditors can make a claim against your mom's estate - has probate been opened? I'm sorry for the loss of your mom.

 

[jhstiff]

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Unread Yesterday, 04:49 PM
Betty Betty is offline
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If you & your sister are the beneficiaries of your mom's life ins. policy, the proceeds are yours & your sisters to do with as you wish. The proceeds are not part of your mom's estate and, therefore, cannot be seized by creditors of your moms. The creditors can make a claim against your mom's estate - has probate been opened? I'm sorry for the loss of your mom.

Probate has not been opened, what is probate? And thanks all for your help, this is a very confusing/stressful time, thanks for all your help.

 

[moburkes]

Go to your mom's county's website. Look under legal. There should be information there on probate.

 

[jhstiff]

Just one more follow up question, I am in PA, but my mothers residence was in VA, can any of you tell me if the laws are the same in VA as in PA (or at least close), I talked to a PA attorney, but he told me the same things you guys did, but said that I should contact a VA attorney just to verify. Can anyone for VA verify this for me?

Thanks again for all your help.

 

[moburkes]

I don't care where you live, or where she died (not being rude). There is no law in any state which requires a child, unless they guaranteed a loan, to be responsible for the parent's debt after the parent has passed away.

So, instead of going to YOUR county's website, go to your mom's county's website.