Question nearly enthusiasm insurance?
My boyfriends father died this past year and vanished my boyfriend and his brother 1 dollar in his will. We just now just get a letter from a laywer something like his fathers enthusiasm insurance did not have a benifical so it go to his kids. Is this legit or are we getting our selfs into his father debts?? someone please help?
Answers: If in attendance is no beneficiary, the life insurance proceeds would be in motion to the estate. The executor or administrator is responsible for distributing the estate after all bills are compensated. If they distribute money and the bills aren't paid, they are one-sidedly liable. Since his father's estate has an attorney, apparently they are handling things prudently. Unless your boyfriend is the administrator or executor, he have nothing to verbs about.
Jim Kirby, CPA/PFS, CFP, CFS
Everything will enjoy to be probated by the courts and can be tied up for a while. That means that every creditor he owes can cause a claim to be paid and after the dust have been settled if anything is moved out his kids can split it after the probate courts take their 20% to 40% bad the top.