Can creditors turn after a energy insurance policy contained by Missouri? The lifeless have no spouse and lives alone.?
My father passed away and left me as the beneficiary of the life insurance policy. My father have been divorced for years and lives alone.
Answers:
his estate is responsible for the bills not you
Your father's creditors should be paid by his estate. Life insurance is NOT chunk of the estate. It belongs to the beneficiary and you can do whatever you want with those funds.
If you are the one handling his estate and in that are no assets, send a letter to the creditors beside a photocopy of his death certificate (don't transport the expensive certified copies). Tell them that there is not money to pay them.
Most will write stale the debt and you'll hear nothing further. Some credit card companies may try to convince you that you must pay. But explicitly not true. Don't talk to them on the phone. Just send another message with a copy of the death tag -- send it certified, return receipt this time.
Life insurance covers lots of different things. Since I'm from Vermont I'm not familiar near the Missouri regulations, so I recommend you call a local life insurance agent. http://www.usinsuranceadvisor.com/Life-I… They should be capable of help you.
No. If you are the named beneficiary, the insurance company will pay the benefit directly to you. It does not become quantity of your father's estate.
They can't stir after the life insurance. If you are the beneficiary of the policy, the money is YOURS. Debt is not inheritable.
So YOUR creditors can go after the money, but not your dad's.
If the beneficiary be his estate, though, and you inherited through a will, then adjectives his debts must be paid off, earlier you can inherit ANYTHING.
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Answers:
his estate is responsible for the bills not you
Your father's creditors should be paid by his estate. Life insurance is NOT chunk of the estate. It belongs to the beneficiary and you can do whatever you want with those funds.
If you are the one handling his estate and in that are no assets, send a letter to the creditors beside a photocopy of his death certificate (don't transport the expensive certified copies). Tell them that there is not money to pay them.
Most will write stale the debt and you'll hear nothing further. Some credit card companies may try to convince you that you must pay. But explicitly not true. Don't talk to them on the phone. Just send another message with a copy of the death tag -- send it certified, return receipt this time.
Life insurance covers lots of different things. Since I'm from Vermont I'm not familiar near the Missouri regulations, so I recommend you call a local life insurance agent. http://www.usinsuranceadvisor.com/Life-I… They should be capable of help you.
No. If you are the named beneficiary, the insurance company will pay the benefit directly to you. It does not become quantity of your father's estate.
They can't stir after the life insurance. If you are the beneficiary of the policy, the money is YOURS. Debt is not inheritable.
So YOUR creditors can go after the money, but not your dad's.
If the beneficiary be his estate, though, and you inherited through a will, then adjectives his debts must be paid off, earlier you can inherit ANYTHING.
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