Who is responible for parents debt after death?

Question

Okay my father-in-law is not going to make it much longer, he has no medical insurance so he has alot of hospital & doctor bills from him being sick. His house is not paid for, he already gave my husband his vehicle, can my husband be responible for his debt? He did leave a life insurance poilcy, can someone please explain. I heard they will take debt out of his estate, but there isnt any. I also heard life insurance cannot be taken for debt unless it says so on the policy or there is no beneficary? Can someone please explain this to me???

Answer 1

I'm sorry to hear about your father-in-law.

His executor would usually handle that but if he hasn't chosen one then his next of kin (children). If he's not married the debt will be passed on to his children especially if an estate is not created.

Answer 2

Any local lawyer will give you a free consultation but ask if it's free some people are greedy.

If they have to spend time doing research they will charge you but if you bring in the life policy and the will i think if they charged it would e a flat fee to start for yo to so many minutes and they would tell you ahead of time what 15 or 30 minutes would cost if it's simple you'll probably get free advice but ask first. And bring everything you have neat in a clean oak tag folder.

Answer 3

I am sorry to hear about your father-in-law.  Please accept my condolences.  Adult children (or anyone else) are not liable for a parent's debt unless they cosign for the debt.  

If your father-in-law's insurance policy names a beneficiary, then the beneficiary will be paid by the insurance company after your father-in-law passes away.  If no beneficiary is named then the insurance proceeds will be paid to and become part of the estate.  Even though your father-in-law's house is not paid for it still has value and also becomes part of the estate (or his half if he is married).  Whatever is in the estate can be sold to satisfy your father-in-laws debts.  If there is not enough in the estate to pay all of his debts, then some of the debts will go upaid.  But his debts are not your husband's (or your)responsibility.