Legal Question in Wills and Trusts in Illinois
death of father
Father passed away, still owed on vehicle. Did not own property. Had credit crads and medical bills. With life insurance can we pay off vehile with life insur. 50,000 for us to put in our name? Do we have to pay off bills with life insurance? In Illinois. Funeral is paid for by us.
2 Answers from Attorneys
Re: death of father
If you are the beneficiary of the life insurance, and are not directly liable for the car (co-signer), you are free to take the life insurance money and leave the debt.
Re: death of father
Unless you co-signed for the car or for obligations with your father, you are not liable for anything your father owed when he died.
On the other hand, if you would like to buy the car from your father's estate, you are free to do so.
Regardless, life insurance money that went to you as the beneficiary does not have to used to pay your father's debts.
Good luck to you with everything.
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