Legal Question in Credit and Debt Law in Ohio

Deceased Parent Credit Card Collection

My mother recently passed away. Afterwards we found out that she owed a Chase Bank $6,0000 for a credit card. She owned nothing except for a van that doesn't run but she had a small life insurance policy that was split between my brother and I. Chase Bank is threatening an assett trace. Is the

life insurance policy considered an asset? Will we have to pay the $6,000?


Asked on 8/16/07, 10:12 am

1 Answer from Attorneys
Frank Rozanc Frank J. Rozanc, Esq.

Re: Deceased Parent Credit Card Collection

No, if the insurance is payable to a named beneficiary, it is NOT an estate asset, and not attachable.

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Answered on 8/18/07, 3:13 am


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