Legal Question in Wills and Trusts in New York
Deceased's Credit card debt no will
parent died with no will and no assets other than a joint checking account with me (her daughter). Checking account is one that has a pay to either or survivor of either type.
2 small insurance policies (not enough to cover funeral expenses) on which I am the beneficiary. There are a nubmer of credit card debts. Am I responsible for payment? My name is not on any of the credit cards. Bank account had approx $13000, which was in there to pay for my daughter's wedding.
2 Answers from Attorneys
Re: Deceased's Credit card debt no will
Since the estate has nothing because everything is joint property there are no assets available to pay creditors with. You are not responsible.
Re: Deceased's Credit card debt no will
You can qualify as administrator of the estate as the surviving heir to deal with the credit card companies. Assets on which you are named as beneficiary (like the insurance) all you need to do is file a claim. You can close the bank account by writing and providing a death certificate. While you are named as a joint account holder or survivor, the account balance (to the extent of your parent's equity) is still responsible for the credit card debt. Only funds you provided to the account are exempt from the card debt claim. I suggest you try to negotiate with the card company to settle the debt.
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