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I'm confused... Your the benficiary of what? Life Insurance or a Will? The deceased left debts...and taxes? If you are the beneficiary of a life insurance policy...the proceeds go to you..in full (after paying back any loans taken against the policy), no matter what. Independent of the "estate" of the deceased. If your a beneficiary as in a Will of the decedent...then his bills of whatever type get paid before whatever your supposed to get is available. (If he owes other people they must get paid. It kind of makes sense that he can't leave you money he doesn't really have).
Answer2:
No. Any debts are paid out of the estate left by the deceased. If the estate is not large enough to cover the debts it ends there. The beneficiary gets nothing but does not assume the debts.
What else can I help you with?
Are you still obligated to pay a debt after seven years?
If you are able to pay them then you should.
Can life insurance be bought to pay a beneficiary a debt?
Yes it can.
What if you weren't aware of a debt and they contact you after 7 years?
You are no longer obligated to pay the debt - at this point the hospital has certainly written off the debt - If you had insurance and they failed to bill them - you are in this case not obligated as well - the provider has about 18 months to submit the bill to the correct insurance - if they fail to do so- You are not obligated to pay the bill
Are you obligated if a credit card company sells your debt?
Yes, you are still obligated to pay off your debt even if a credit card company sells it to a third party.
Is the surviving spouse obligated to pay medical debt after the death in Texas?
Yes!
Do life insurance companies ever pay off debt before giving the beneficiary the money?
No.
Can a child be obligated to pay a parents' credit card debt when they are of legal age if they were assigned a card as a minor?
no
If you die and you still have outstanding loans can they take your life insurance to pay everything off?
Life insurance paid to your estate could possibly be used to pay off personal debt. However, if the life insurance is paid to a beneficiary, it is their money, not yours, so the beneficiary has no obligation to use the money to pay off your debt.
Can an executor of will keep the money of a beneficiary to pay a debt he feels the beneficiary is responsible for but with no proof?
Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.Generally no but you haven't included any detail. You can ask the court to review the issue and compel the executor to pay the legacy. The executor can withhold money to pay the debts of the decedent. By law, they must be paid before any distribution to the beneficiary. If the debt in question is on the decedent's credit card the executor must pay it.
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.
If the decease has credit card debt with no dollar value to his estate what happens to the debt?
The estate has to pay all of the debts off if possible. If the estate doesn't have the assets to do so, they distribute as best they can. If the court signs off on the distribution, the debts are ended.
Can a teenager under the age of eighteen be legally obligated to pay back credit cards in the United States?
A child under the age of 18 is not legally obligated to pay back any credit card debt. Their parents are also not obligated to pay back the debt for them. The teen, however, can be taken to court and/ or face criminal charges for filing a false credit card application and also face charges if they used a social security number from another individual who was over the age of 18.
