J
jenjen1972
Guest
What is the name of your state? Pennsylvania
My former husband's brother called to inform me that as beneficiary to his life ins. & 401K/profit sharing if I sign my name in order to claim the money that I will be held responsible for the total estate. He said that his lawyer said that if I don't sign it all over to the estate that I will have to pay taxes on all of the money and it would put my name into the estate which would make me responsible since there is no will. He said that if I sign the money over to the estate, his lawyer would handle the whole estate, that no one would be responsible for my ex's mountains of debt and that once the creditors are paid that the left over money will be distributed. Is this possible? Should I sign over the money to the estate to avoid further problems? How would I be taxed if I decided to keep the money? Can I be held responsible for his debts if I don't sign over the money? If I am paid the money directly, would I be named executor even if there is no will? Should I get a lawyer? I don't have the money to do that but I am feeling so pressured to do this by his family and I am scared of making the wrong choices.
My former husband's brother called to inform me that as beneficiary to his life ins. & 401K/profit sharing if I sign my name in order to claim the money that I will be held responsible for the total estate. He said that his lawyer said that if I don't sign it all over to the estate that I will have to pay taxes on all of the money and it would put my name into the estate which would make me responsible since there is no will. He said that if I sign the money over to the estate, his lawyer would handle the whole estate, that no one would be responsible for my ex's mountains of debt and that once the creditors are paid that the left over money will be distributed. Is this possible? Should I sign over the money to the estate to avoid further problems? How would I be taxed if I decided to keep the money? Can I be held responsible for his debts if I don't sign over the money? If I am paid the money directly, would I be named executor even if there is no will? Should I get a lawyer? I don't have the money to do that but I am feeling so pressured to do this by his family and I am scared of making the wrong choices.