Justwanttoknow
Junior Member
What is the name of your state? Illinois.
My uncle died recently and left his estate to my mother. He had some investments which listed her as beneficiary and he also had about $60,000 equity in his house. My uncle had about $100,000 in credit card debt plus he owed about $17,000 an car loan. When all is sold, I do not see how all his debts can be paid. Will the investments that were left to my mother have to be used to pay debts or are they kept separate from the estate ? Who will have to pay the attorney fees for closing the estate ? Will the credit card debt have to be paid out of the estate before my mother can inherit anything ?
Thank you for your help with these questions
My uncle died recently and left his estate to my mother. He had some investments which listed her as beneficiary and he also had about $60,000 equity in his house. My uncle had about $100,000 in credit card debt plus he owed about $17,000 an car loan. When all is sold, I do not see how all his debts can be paid. Will the investments that were left to my mother have to be used to pay debts or are they kept separate from the estate ? Who will have to pay the attorney fees for closing the estate ? Will the credit card debt have to be paid out of the estate before my mother can inherit anything ?
Thank you for your help with these questions