Mom passed away Monday. She has 15K in cash and savings and I am on her account so I can withdraw that money. No spouse. No vehicle. A mobile home that's paid for and where my 90 year old grandmother still lives. She also has about $30-34K in credit card debts and medical bills. No single credit card is above about $4K. I am also named on one of those cards and know I'm on the hook for it ($600). I am working in getting a payout from a $25K life insurance policy. She said she had a will but I haven't found it yet.
She always told me if she passed not to pay off the cards and to tell the debt collectors to pound sand. I am not so sure. I know they could sue her estate. Funeral costs and a headstone will take about $10K out of her account, leaving only about $5K for the $30K in debt. What to do? Could they in theory force a sale of the mobile home to settle the debts? Should I pay the cards or medical off out of the life insurance policy and close her accounts? Do I need to try to go through probate? I know the cards won't talk to me unless I get named executor but I can manage her accounts on her behalf and in theory could pay them / cancel them online. And would the legal fees be so much I may as well pay them off?
I'm sure this gets asked a lot in some variation. Thanks for being patient with me.
Submitted November 17, 2017 at 05:04AM by notmyrealnameyo http://ift.tt/2j2YRax
