What to do about the credit cards of a deceased?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What to do about the credit cards of a deceased?
My dad is dying. He owes about $30,000 on his credit cards. He has $10,000 in the bank, which I figure I’ll have to use to pay his bills during probate. If I cancel his cards at death, can the credit card companies sue the estate? Or should I keep paying them until probate is done and then cancel them?
Asked on June 1, 2012 under Estate Planning, South Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
The main concern that you should have is to take care of your father at this point in time. I would make the minimum payments on a monthly basis on your father's credit cards.
After he passes, you should probate his estate assuming he has a Will in place. If he does not have one presently, one should be drafted for him immediately and he should sign and date it before two disinterested witnesses.
Upon his passing, I would notify the credit card companies of his death and stop payments at such time.
Once he passes, probate his estate and assuming his debts are greater than his assets, the creditors of his estate will receive a pro rata share of the obligation owed to each in relationship to the amount of his estate.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.