If my brother passed away and left money in CD’s with me as beneficiary, am I liable for any of his debts?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If my brother passed away and left money in CD’s with me as beneficiary, am I liable for any of his debts?

He had no Will; there’s no power of attorney or exectior. He owed on his house, and car, which will be given back to the bank since no one can afford them or wants to go through trying to sell them. Can the bank or car loan people take the CD money from me?

Asked on April 28, 2013 under Estate Planning, Kentucky

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If your brother passed and there was a bank account or accounts in your name such accounts are yours. Conceivably in the event of a lawsuit for a deficiency if an obligation owed on the car or home, the money that you received could be sought but the chances of such based upon my experience is remote.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption