Legal Question in Wills and Trusts in Illinois
Credit Card Debt
My father passed away, in Texas, without a written will. I was the beneficiary on an insurance policy and his current wife received his pension. Together they accrued a large sum of debt on a credit card that was in his name. The credit card co has sent a request of probate information. Who is responsible for payment?
1 Answer from Attorneys
Re: Credit Card Debt
The usual rule is that the probate estate is responsible -- if no probate estate, no liability. If there assets to be probated, the claims reduces what the beneficiaries receive.
I will warn you that I encountered a situation a few years ago where an attorney handling an estate in another state claimed there was liability on insurance recipients. I doubt it and would wait for the creditors to move.
I would respond to their inquiry, saying there was no probate administration because no probateable assets.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
