Mother died, have beneficiary as me and my 2 sisters, no will, she owes crediters.?
Does the life insurance dance to creditors even though the beneficiarys are myself and my sisters?
Answers: I'm so sorry about your mother...
As long as your mother specifically tabled you and your sister as the beneficiaries the creditors cannot touch the policy benefits. The only instrument they could would be if your mother left her estate as the beneficiary. The estate would later have to settle debts before allocating any money to heir.
So, if the beneficiaries on the policy are specifically listed as you and your sisters consequently you and your sisters will get the money directly from the insurance company.
Best of luck as you buy and sell with adjectives of this!
The executor of her estate must pay her debts until that time distributing any assets. I think this includes the proceeds from her insurance policy, if I appreciate the law correctly.
This is not something to touch on your own. You want real trial advice, not my learned guesses. A phone call to an attorney is going to be worth doesn`t matter what he or she charges you.
I'm sorry for your loss, Bill.
No, it shouldn't. Insurance passes outside of your Mom's estate since your Mom specifically planned her kids as the beneficiaries. If she had planned it as her estate, than the creditors would be able to bring paid from that.
Don't rate her creditors with your own money from your own statement. If you do, they might go after you to take-home pay it all. (That really happen.)
You should see a lawyer to be sure that you and your sisters are protected. Even in need a will, your mom's estate may have to be settled. She died intestate (without a will). There are state-specific rules for how her estate should be isettled.
Life insurance go directly to the names beneficiaries. It does not dance to the estate unless there are no name beneficiaries.
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Answers: I'm so sorry about your mother...
As long as your mother specifically tabled you and your sister as the beneficiaries the creditors cannot touch the policy benefits. The only instrument they could would be if your mother left her estate as the beneficiary. The estate would later have to settle debts before allocating any money to heir.
So, if the beneficiaries on the policy are specifically listed as you and your sisters consequently you and your sisters will get the money directly from the insurance company.
Best of luck as you buy and sell with adjectives of this!
The executor of her estate must pay her debts until that time distributing any assets. I think this includes the proceeds from her insurance policy, if I appreciate the law correctly.
This is not something to touch on your own. You want real trial advice, not my learned guesses. A phone call to an attorney is going to be worth doesn`t matter what he or she charges you.
I'm sorry for your loss, Bill.
No, it shouldn't. Insurance passes outside of your Mom's estate since your Mom specifically planned her kids as the beneficiaries. If she had planned it as her estate, than the creditors would be able to bring paid from that.
Don't rate her creditors with your own money from your own statement. If you do, they might go after you to take-home pay it all. (That really happen.)
You should see a lawyer to be sure that you and your sisters are protected. Even in need a will, your mom's estate may have to be settled. She died intestate (without a will). There are state-specific rules for how her estate should be isettled.
Life insurance go directly to the names beneficiaries. It does not dance to the estate unless there are no name beneficiaries.