Legal Question in Wills and Trusts in Texas
Mother recently passed away. Left behind a house with a home equity loan attached, a fully paid off vehicle and credit card debt. The will specifies all 4 kids get equal share of remaining assets.
1) Do I need a probate lawyer for such a small estate?
2) How do I handle the credit card debt? There was life insurance proceeds but not enough to cover the credit card debt. My mother was the only person on the credit card agreements.
Asked on 2/03/11, 8:24 am
1 Answer from Attorneys
1. Yes
2. The lawyer can send out permissive notices to the credit card companies. This may cause some of the debts to be uncollectible.
The life insurance typically isn't subject to the debts of the deceased. Get a lawyer...now.
Dave
http://leonlaw.com
Answered on 2/08/11, 6:34 pm