Legal Question in Wills and Trusts in Texas
credit card debt and sm life insurance policy
My mother recently passed with out a will, and no executor. She had some large cc debts. My father is still living but only has social secuirty, and he has willed the house to me(I still live there). Now I found out that mom may have had 2 more small policies left to me. Do I have to tell the credit card companies that I may have money ?
2 Answers from Attorneys
Re: credit card debt and sm life insurance policy
It sounds like you may need to go through an administration of your mother's estate. If there are large debts and not a lot of assets that is a viable option. You would absolutely need an attorney for that. Regarding the credit card companies and what I'm presuming are insurance policies it is better to let them know your mother has died (if they don't know already) and generally creditors cannot take the proceeds of life insurance policies to settle debts, however, again it sounds like you need an attorney. Many will do an initial consultation for free. Good luck!
Re: credit card debt and sm life insurance policy
The life insurance policies are not part of the your mother's estate. You don't owe the credit card companies anything. Your mother's estate (whatever that is) owes the cc companies. Tell them to put their head between their legs and whistle.
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