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Debt responsibility New York

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  • Debt responsibility New York

    My father passed away in November of 2007. He had three annuity accounts, all with the same company, a savings and a checking account. I was the only son, and was named as the sole beneficiary on all accounts. There are no other assets. Am I therefore liable to pay his credit card debt?

  • #2
    Originally posted by Rider68 View Post
    My father passed away in November of 2007. He had three annuity accounts, all with the same company, a savings and a checking account. I was the only son, and was named as the sole beneficiary on all accounts. There are no other assets. Am I therefore liable to pay his credit card debt?
    No, you are not responsible for your father's credit card debt. If there were any assets to probate, his estate would have to pay the debt. If all the accts. you are beneficiary on were set up to pass outside the estate (outside of probate) directly to you, then the creditors cannot touch them.
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