Legal Question in Wills and Trusts in Florida
Beneficiary Protection
What is the law regarding when a person passes away with debts? My ex-husband left his assets to me as a beneficiary on his IRA account and the rest in a will. We have been divorced two years and he owes me quite a bit of money for unpaid child support and other items. Do his creditors have the ability to claim any of his assets as payment from me for his debts? The only account with much value is the IRA with about $20,000.
1 Answer from Attorneys
Re: Beneficiary Protection
Anything passing directly to a beneficiary (like the IRA) or a joint owner pass free of creditors. If there were assets in his name alone, thus having to go through probate, they are subject to the claims of creditors (and it sounds like you are a creditor too, and you may have priority over some other creditors).