Me and my Mom have a Joint Account. Mom passed away and I decided to remove her name from the joint account 4months after she passed on. Recently I've been notified that she has a mortgage debt . My question is am I responsible for paying that debt from the money I inherited from the joint account? Can the debt collector go after the money I inherited from my mom such as Life Insurance and the money from our joint account?
Asked on 7/15/11, 1:42 pm
1 Answer from Attorneys
Life insurance, no, unless the insurance was payable to her estate rather than you as named beneficiary. Money from a joint account, they may be able to go after. If it was a joint tenancy account or pay on death, then they probably cannot reach it. If it was her money with you just as a joint signatory, then you will probably have to pay that money toward the mortgage.
Answered on 7/15/11, 1:50 pm
