ya know what this case reminds me of when my dad d
Post# of 11039
Posted On: 11/05/2015 10:51:56 AM
ya know what this case reminds me of when my dad died.
When he passed, he had insurance policies and retirement accounts that had me and my 2 sisters as beneficiaries. He also had massive debt, unpaid card notes and a house in foreclosure.
When it went into probate his house went back to the bank, one of his lease cars went back to the dealer, and another had to be sold and the money made went into his estate fund. At this time his creditors when clamoring for whatever money they could get. However money that was given to us as beneficiaries was untouchable. Creditors tried to get my sister (the executor) to send them payments, but guess what? It is not our responsibility to pay HIS debts! Even though we got money from him, the debts are his name, his responsibility! In most states (Michigan for 1), the spouse is not responsible for the debt. So, I my husband has a credit card that goes into judgment, they cannot go after my assets. In Texas it is a different story!!
So, for COR to be able to go after us would be like creditors being able to go after me and my sisters for life insurance money my dad left us.
Am I crazy or does this make sense!!
When he passed, he had insurance policies and retirement accounts that had me and my 2 sisters as beneficiaries. He also had massive debt, unpaid card notes and a house in foreclosure.
When it went into probate his house went back to the bank, one of his lease cars went back to the dealer, and another had to be sold and the money made went into his estate fund. At this time his creditors when clamoring for whatever money they could get. However money that was given to us as beneficiaries was untouchable. Creditors tried to get my sister (the executor) to send them payments, but guess what? It is not our responsibility to pay HIS debts! Even though we got money from him, the debts are his name, his responsibility! In most states (Michigan for 1), the spouse is not responsible for the debt. So, I my husband has a credit card that goes into judgment, they cannot go after my assets. In Texas it is a different story!!
So, for COR to be able to go after us would be like creditors being able to go after me and my sisters for life insurance money my dad left us.
Am I crazy or does this make sense!!
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