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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55311
Experience:  29 years of experience practicing law, including tax and estate planning.
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My Dad is 96. He lives in a senior living center . My Mom has

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My Dad is 96. He lives in a senior living center . My Mom has passed. He has no assets at all . We live in Texas. Dad has only one debt and that is a credit card that is closed, but still has a 12,000 balance. I'm paying $200 a month on it. My question is this: Dad is donating his body to science, he is a Veteran of WW II. When he passes , I , his Daughter am the beneficiary to a $6000 life ins policy. Am I obligated to give that to the credit card company? I am P.O.A, the Executor and have been wondering this for a while. Thank You , Lauren
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.
Good morning Lauren. My name is ***** ***** I look forward to helping you. You have no personal liability for your dad's debt. Furthermore, the proceeds of the life insurance policy are paid directly to you upon his death outside of probate and the proceeds are not subject to any debt of your dad's estate. With regard to the debt, I would suggest stopping making any further payments as he has no assets and it's not your obligation. And, upon his death, simply let them know there are no probate assets to pay his debts and liabilities (send them a death certificate), and that they will simply need to write off the debt as a bad debt. Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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