Am I responsible to pay my brothers debt?
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Am I responsible to pay my brothers debt?
My brother passed and left me his beneficiary to his life insurance policy and his 401K. Am I obligated to pay his bills, such as medical expenses, IRS Debt, TV bill, Energy Bill, Credit Cards, etc.?
Asked on April 21, 2017 under Estate Planning, Nevada
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Life insurance proceeds, as well as proceeds from a 401k, are not part of a deceased's estate. Accordingly, they are not subject to the claims of estate creditors. They pass free and clear to the designated beneficiary.
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