My mother died and left a bit of credit card debt. She had very little money. I have been put in charge of her estate. Yesterday I went to see a lawyer because there is just so much I don’t understand.
Anyway, here’s the debate. In the state of Maryland any debts must be recorded by the register of wills within six months. After which time no one can put a claim on the estate. Basically if the credit cards do not submit a claim to the courts in the next few months they will not be paid. From what I was told, by the lawyer, was that this is different then most states in which claims can come years later.
So basically, if the credit cards don’t say anything soon they don’t get their money and I don’t have to pay. This to me seems at least a bit wrong, however I do know that the card companies have insurance or something like that to pay off people who don’t pay or die and can’t. So should I, or anyone have to worry about someone else’s debt when they die? What’s to keep me from going on a huge vacation if I know I’m going to die soon, charging it all and not paying?
And if anyone wants to either use my situation, my mother has around 5k in debt, and 6k in cash. I could pay the credit off, but then I would not be able to pay for the house before I get a chance to sell it so I could lose it. I was told that I could make minimum payments for a couple of months then let it go. Basically I can not, at this time pay anything off. Though when the house and other things are sold then I would be able to, but that will not be for at least six to seven months so they would be SOL.