Legal Question in Credit and Debt Law in North Dakota

Parents Liability in Son's Credit Card Debts

I have a friend who passed away young and his parents are 57 and 60 years old and he had a life insurance policy of $250,000.00 to which he named his parent the beneficiaries. Given there is no estates or assests are they legally obligated to use this money to pay off his debts? He also owed his parents over $250,000 for a failed business venture and this was given to them in case something were to happen to repay this debt that came out of their retirement fund.


Asked on 1/23/08, 5:38 pm

1 Answer from Attorneys
Maury Beaulier612.240.8005 Minnesota Lawyers

Re: Parents Liability in Son's Credit Card Debts

No. Only the estate is liable for those debts.

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Answered on 1/29/08, 12:37 am


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