Legal Question in Wills and Trusts in Missouri
Estate, Mortgage and Debt
My mother recently died leaving massive amounts of debt (credit cards, mortage, hospital bills). There are no assets as of now. However, there was mortgage insurance on the house belonging to her and her husband. In this situation, does the house (or her part of it), become part of her otherwise non-existant estate?
2 Answers from Attorneys
Re: Estate, Mortgage and Debt
If your mother's husband is still alive, it is likely that they owned the house as tenants by the entirety which is a form of joint tenancy so the husband probably ownes the house and it is safe from debts that belonged only to your mother.
Re: Estate, Mortgage and Debt
I would need more information to accurately evaluation your situation. There is a homestead allowance in Missouri which may be used to shield the home from creditors. If the house has somehow been destroyed, then the estate may have a claim. Again, I would need more information. Please don't hesitate to call me if you would like to discuss further.
- James Manning
Please be advised that no attorney client relationship exists between us.
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