What is the name of your state (only U.S. law)? WI/CO?
What is the easiest way to proceed with settling my father’s estate?
He recently passed away and at the time of his death he resided in and was a resident of CO. I reside in WI. I am assuming we would follow CO law. He was also divorced. His total estate value is $4,000 (assuming 401k and life insurance below is not included). He has outstanding credit card debt of approximately $5,000. Funeral expenses are approximately $5,000.
1. Would a life insurance policy ($1000) which listed my mother as a beneficiary be valid or would the funds go to the estate? We would prefer to keep money out of estate and have the funds routed through her.
2. He also had a 401k ($3000) with a similar situation as in # 1.
3. If funeral expenses were paid, there would be no money left for credit card debt. Are we held liable?
4. Are travel expenses to take care of things included in funeral expenses?
5. Are funeral expenses paid prior to credit card debt?
What is the easiest way to proceed with settling my father’s estate?
He recently passed away and at the time of his death he resided in and was a resident of CO. I reside in WI. I am assuming we would follow CO law. He was also divorced. His total estate value is $4,000 (assuming 401k and life insurance below is not included). He has outstanding credit card debt of approximately $5,000. Funeral expenses are approximately $5,000.
1. Would a life insurance policy ($1000) which listed my mother as a beneficiary be valid or would the funds go to the estate? We would prefer to keep money out of estate and have the funds routed through her.
2. He also had a 401k ($3000) with a similar situation as in # 1.
3. If funeral expenses were paid, there would be no money left for credit card debt. Are we held liable?
4. Are travel expenses to take care of things included in funeral expenses?
5. Are funeral expenses paid prior to credit card debt?