Mom's been diagnosed with terminal cancer. Question...mom owes everybody money. Her home is way upsidedown, credit cards and probably more. If she names the few things she does own, ie. pictures on the wall, excersize equipment, dishes, you know personal things...if she names them in her will to go to surviving family members, will those items be protected from creditors taking them to satisfy debts??
2007-01-11 13:59:19 · 13 answers · asked by Rocky C 2 in Family & Relationships ➔ Family
It is good to think of how to lay your mother to rest. Not really how you will spend her money or where her things will go before she is even gone.
Unless of course your mother is getting things ready, until that time do not worry how much stuff you will be getting from her.
My father went through all his pictures and keep sakes when he new the time was coming. I would sit around with him and reminisce. When he passed on I was shocked at how everyone was fighting over stuff. He gave me his bible and I took a picture of my father. The rest who knows where it is?
This to me was shameful! Please do not be this way.
2007-01-11 14:07:43 · answer #1 · answered by Anonymous · 1⤊ 2⤋
Yes, I am afraid that if she is sued for the money owed, the credit card or banks may recover the money by auctioning the items.
Usually items of value like TV, Fridge, DVD etc are sold but house hold items and personal effects are not auctions.
Only items that belongs to her can be auction off but if the items belong to any other person/s ( proof must be given ) cannot be seized. Normally a writ of seizure is issued by the court and the court bailiff will verify the items.
Suggest you seek a lawyers advise.
Good Luck
2007-01-11 14:16:41 · answer #2 · answered by sonisunny 3 · 0⤊ 1⤋
You need to find out if she has a will and what her wishes are regarding the disposition of her assets. She really needs to get her financial issues in order before she becomes too ill to proceed since this process is very time consuming and can be fairly complicated.
If she doesn't have a will she needs to get one drawn up immediately. If she cannot afford an attorney I would suggest that she contact legal aid.
Getting things in order is not something that a lot of people want to do but it is the best thing to do so that the people who are left behind will know what to do and what her wishes were. It's not pleasant but everyone has to do it sooner or later.
Good Luck!
2007-01-11 14:12:53 · answer #3 · answered by Inquisitive125 3 · 1⤊ 0⤋
Dont wait until Mom is gone. Instead, lookup some lawyers in the phone book that handles these kinds of cases. Most lawyers will give you a FREE 1/2 hour phone consultaion. Have a list of questions you want answered readily available, then ask away. Call more than one lawyer so you can get more than one opinion on what needs to be done. Your next step will be to follow their advice & act accordingly.
Good Luck.
2007-01-11 14:09:12 · answer #4 · answered by wandarett 1 · 1⤊ 0⤋
Sorry to hear about your mom being ill. From the way you described it, I can't imagine any big company is going to go after a deceased person's household items to satisfy their debts. The bank wouldn't have much to gain because in my experience, you can't get much for old furniture, etc. from the homes of people who have passed away. Plus, it would look very bad from a public relations angle.
2007-01-11 14:20:31 · answer #5 · answered by njyogibear 7 · 1⤊ 0⤋
Not sure about this. I believe they can seize everything to pay the debts. Take or have her let you take all you want now and hide it so they cant get it. (Move it to your home, put in storage in YOUR name, etc.). Anything in her name can be seized. Only time something is protected(I believe) is when it is JOINTLY owned.
See about having her file bancruptcy now for all the credit cards. YOU CAN file bancruptcy just on certain things, but not all. This will eliminate the credit cards NOW.. Maybe then she can get the house back on track before she dies and not be upside down on it and it MAY be spared. At least it wont be sold for credit cards to be paid off.. God Bless...I lost my mom 2 yrs. ago.
2007-01-11 14:09:22 · answer #6 · answered by Deb 5 · 1⤊ 0⤋
she best give those things away now before she dies or else the creditors will sell everything and anything to satisfy her debts. They don't care how they get their money. They are like a bunch of vultures when somebody is about to die.
2007-01-11 14:04:20 · answer #7 · answered by ? 7 · 2⤊ 0⤋
First, I am so sorry to hear about your mom. may God be with her. The creditors are interested in money or property they can turn into money. They are not interested in her personal items. Pray for a miracle that she is healed.
2007-01-11 14:04:33 · answer #8 · answered by pro1fit1 2 · 1⤊ 0⤋
No, probate court will allocate the assets of the estate to satisfy creditors.
2007-01-11 14:03:27 · answer #9 · answered by Dane 6 · 2⤊ 0⤋
Yes, they all will be notified that she has passed and that is something that they will have to write off. Rather they like it or not she has passed on to be in HEAVEN and no one to pay them off, if they call let them know she has passed and is no longer here and if they ask will you pay her debt tell them no it was hers and your not responsible for it and to write it off and don't call you anymore about it. They will get the picture and they will do what they can only do write it off. They can not hold you responsible for something you had nothing to do with been there done that.
2007-01-11 14:06:08 · answer #10 · answered by Anonymous · 0⤊ 1⤋