Not that I know of.. What does one thing have to do with the other?
Bank's Insurance company
The beneficiary is not necessarily responsible, but the estate of the deceased will go through probate. At that time, any outstanding loans or financial obligations will be paid from the estate. This will have the effect of reducing inheritance and will seem to be "you" paying for the debt, but it actually the last bill everyone pays.
In Oklahoma, the deceased's estate is responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
The estate of the deceased is responsible for the debts. Indirectly, the spouse is going to pay the debts, either by a smaller inheritance or as a beneficiary of the goods and services purchased by the spouse.
The deceased's estate is going to be responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.
Indirectly. The estate of the deceased husband is responsible for resolving all of his debts. Since the widow is going to be the primary beneficiary of the estate, she will inherit less because the estate has to pay the debt.
The surviving spouse is only responsible for credit card debt if the account were joint or the married couple lived in a community property state; (Texas and Wisconsin treat marital debt differently than other CP states). Death benefits from life insurance with a named beneficiary or SS death benefit are not subject to creditor action for repayment of the deceased debts.
The deceased estate is responsible for repayment of debt, with secured debts taking priority. With the exeption of property which is ruled exempt to probate procedures, assets will not be distributed to named heirs until debts are satisfied.
Unless both spouses signed the credit card agreement, the answer is no. The debt can only be charged against the property of the deceased, but must be fully paid (or paid as much as it can be in the case of an insolvent estate) before anything can be paid to the spouse.
The estate is responsible for the decedent's credit card debt.
Yes, the deceased's assets will go towards paying off their debts, before the remainder is distributed to the beneficiaries.
No it is not part of their estate, because once the person is dead the life insurance benefits belong to the designated benificiery.Who unless it is their spouse, is not responsible for the deceased debts.Edit: Life insurance proceeds payable to the beneficiary(s) are not themselves subject to collection by the deceased person's debtors. However some contracts, agreements, and loans do include the right of the debtor to collect from the borrower's heirs. You or your attorney should examine the terms of the credit card agreements to determine this.The face value of a life insurance policy itself on the other hand...if owned or controlled by the deceased person, for the benefit of their own estate or if no beneficiary is listed, or if the policy is gifted to someone else within 3 years before the decedent passed away... it IS included in the decedent's estate and subject to federal and possibly state estate taxes.