My mom just recently passed. She left behind an insurance policy and 401k. She did not have a will or own any property. She also did not have a POA. My question is are we liable to pay for her medical and credit card bills?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

My mom just recently passed. She left behind an insurance policy and 401k. She did not have a will or own any property. She also did not have a POA. My question is are we liable to pay for her medical and credit card bills?

We live in Missouri.

Asked on August 23, 2017 under Estate Planning, Missouri

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

No, beneficiaries/heirs are not liable for the debts of an estate. If there is no money left with which to pay the bills of the deceased, then creditor claims will extinguish as a matter of law. Further, the proceeds of a 401k or life insurance policy go directly to the named beneficiaries; they are not considered to be an asset of an estate. (i.e. they pass outside of probate).


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