Legal Question in Credit and Debt Law in Missouri

Re: Credit card payoff after death

Only if credit card companies file a claim against your estate. If you don't open an estate then unless the balances are significant the companies won't open one for you and charges will not have to be paid. If you need any estate planning assistance feel free to call me . 725-8000

GSK

Re: Credit card payoff after death

In Missouri if you die owning assets in your own name alone, not in a trust, not in joint names with someone else, and not in any other probate avoiding manner, there is a distinct possibility that a probate estate will be opened in the probate court in the county where you resided or where you owned real estate. If there is a Will, it will be filed with the court and your personal representative named in the Will handles the estate. If there is no Will, there may still be a probate estate opened. Some of the purposes behind the laws governing probate matters are to assure that whatever you leave behind goes to the rightful heirs, and also to allow any creditors the opportunity to file claims against the estate. The person handling your estate may simply pay any such debts, settle them for less than full value, or contest them if there is a legal reason to do so. Many times creditors choose not to file a claim against an estate if the debt is relatively small or the size of the estate is relatively small. There are various ways to avoid this situation. If you would like a free telephone consultation you may call me at 314-727-2822.