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Do life insurance benefits have to be used to pay the debts of the deceased parent?
Wiki User
∙ 17y ago
They are not responsible for credit card or other creditor debt unless they are joint account holders, nor are they responsible to pay medical bills unless they signed a written agreement to do so. Life insurance death benefits are not subject to creditor attachment or to probate procedure when there is a named beneficiary. The estate can pay the debts any way that the executor determines would be best. They just have to be paid.
Wiki User
∙ 17y ago
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Do the children have to pay the debts of their deceased parents?
If you were not a joint debtor you are not responsible for repayment of deceased parent(s) debts.
Can life insurance benefits be seized to pay credit card debts of the deceased?
Creditors can attach any assets of the deceased to make sure they are paid. If the debt is legitimate, the estate is obligated to pay. Credit card debts are among the most easily documented debts so it's doubtful that you can prove that the debt is not legitimate. * If the policy names a beneficiary the death benefits are not subject to probate procedures nor can they be attached by creditors for debts owed by the deceased.
In Florida is a sibling or parent required to pay the portion of medical bills not covered by insurance if deceased did not have a will and the deceased assets are less than the combined medical exp?
A person's estate is responsible for their debts. If the debts are greater than the assets the estate is declared to be insolvent. You should speak with an attorney to make certain that the debts are paid correctly according to the law.
In the state of Maryland who pays the credit card debt of a deceased parent?
Generally, the deceased parent's estate is responsible for the debts of the deceased. The creditors should be notified of the death. If there are any assets the estate should be probated.
Is an adult child of a deceased parent responsible for foreclosure debts?
Not unless they were listed on the deed of the property that was foreclosed. The estate is responsible for settling the debts.
Must the debts of the deceased be paid out of insurance funds prior to the distribution?
If the insurance is made payable to the estate then the debts of the decedent must be paid before any distribution to heirs is made.
Can medical bills of a deceased parent get in the way of the estate heir?
Yes, they will get in the way. Debts are the responsibility of the estate. Before anything in the estate can be distributed, the debts have to be cleared.
Are step children responsible for debts of their deceased parent in Florida if they are named in the will?
Step children are generally not responsible for the debts of their deceased parent in Florida unless they have co-signed or guaranteed the debts. Being named in the will does not automatically make them responsible for the debts. It is important to consult with a probate attorney for specific advice on this matter.
Are the surviving children responsible for a deceased parent's debts?
The estate is responsible for paying the debts of the decedent. No distribution can be made until the debts are paid. If there is not enough to pay the debts the court will declare the estate to be insolvent and the creditors are out of luck.
Are cemetery plots considered property that can be sold to pay for outstanding debts of a deceased parent?
yes cemetery plots are considered property and can be bought and sold to pay debts
Are children responsible for a deceased parent in the state of Pennsylvania?
The estate is responsible for all the debts of the deceased. The children are not required to pay them from their own funds, but it will reduce the amount they inherit.
In Florida what should a daughter do about credit card debt of a deceased parent?
Make sure the executor of the estate is aware of the debts. Those debts have to be resolved before there can be distribution of the estate.
