Legal Question in Wills and Trusts in Massachusetts

My mother passed away and she has left $50,000 of insurance money to her estate. I did not want my name attached to anything as I didn't want to become responsible for her debts including her mortgage of $400,000 and credit card debt around $20,000.

Every bank account was joint and those accounts have been closed and the money transferred to my accounts. $6,000 is the only money from a bank account left. Would the $50,000 be considered estate money that a creditor could go after? I'm afraid by trying to claim this money that it will put me in a worse situation than letting the $50,000 go.


Asked on 9/17/09, 11:32 pm

2 Answers from Attorneys

The estate is responsible for her debts. Here $400,000 mortgage could probably be settled by a deed in lieu unless it is a reverse mortgage in which case the lender takes the home and the debt should be cleared. You only become responsible for her debts if you co-signed her notes or credit cards.

If the $50,000 is payable to the estate, then an estate needs to be opened and the debts dealt with. As administrator of the estate you may be compensated.

I suggest you contact an attorney and deal with this directly.

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Answered on 9/23/09, 9:43 am
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

You apparently misunderstand the process.

And I agree with Jonathan, get an attorney and review your options in detail.

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Answered on 9/23/09, 1:42 pm


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