Legal Question in Wills and Trusts in Illinois

Family Esate and a credit card bill

M father passed away and his only asset was stock in a small family held investment company. The stock went to his 2 children, and he has a large tax bill and 40,000.00 on Visa. Can we do something about the Visa reduce or erase?? BK for him personally???? Concerned son Bill


Asked on 6/26/08, 5:10 pm

1 Answer from Attorneys
John Steele Steele Law Firm

Re: Family Esate and a credit card bill

His assets have to pay off his debt prior to distributing those assets out to the beneficiaries. Dead people do not declare BK.

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Answered on 6/26/08, 11:18 pm


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