Legal Question in Wills and Trusts in Texas
Benificiary of life insurance And Exec of will
As benificiary to life insurance do we have to pay any and all outstanding bills for deceased out of life ins. policy?It states nothing to this in the will. Only property left in estate is a house with a lean on it from IRS.
Asked on 9/04/05, 6:40 pm
2 Answers from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Benificiary of life insurance And Exec of will
No. The insurance passes outside the decedent's estate and is not liable for the debts of the estate.
Answered on 9/05/05, 10:15 am
James Grissom
Law Office of James P. Grissom
Re: Benificiary of life insurance And Exec of will
life insurance proceeds pass outside the probate estate. If the house has an IRS lien, maybe they would talk to you about spitting the proceeds of the sale.
Answered on 9/04/05, 7:17 pm
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