Legal Question in Credit and Debt Law in New York
Hi,
My mother recently passed away (father dead too 6 years prior), and left a roughly 50K non probate annuity and 6K in a bank account (joint with me) between 3 siblings. We used the 6K bank account to offset funeral costs. She leaves about 3K in credit card debt and possibly some medical bills. Can the CC companies and hospital go after the funds in the annuity, or does the debt die with her ?
and, do we need to file a tax return for her ?
Asked on 2/12/10, 11:17 am
1 Answer from Attorneys
Locksley Wade
Law Office of Locksley O. Wade
The funds payable to beneficiaries in an annuity contract, insurance policy and a bank account pass directly to the beneficiaries and not through the estate of the deceased.
Answered on 2/17/10, 12:00 pm
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