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Posts Tagged ‘funeral expenses’

I have a father who is financially irresponsible. The guy has scammed his way through life and left hundreds of unpaid bills, loans, etc. He has no health or life insurance and I assume I’ll be stuck with his funeral expenses as his only child. I’ve spoken with him about it and he doesn’t seem willing to do anything to solve the problem. When he dies, I’ll pay for the funeral, but how can I protect myself from being stuck with all of his debts?

I’ll give this to you in 3rd person form so as not to lead anyone in any direction: In 1983 a couple w/ 3 grown sons was divorced. The man had a small farm that had been in his family for several generations. To keep things more civil the woman didn’t try to take the farm on the VERBAL agreement that it was given to the sons & the man agreed. They both remarried and now the man is sick, maybe dying. He says he is going to sell the farm and pay his debts and planned funeral expenses so he can die debt free and 2nd wife won’t have to spend the insurance on him. If any money is left over he will divide it among the 3 sons. The sons say it is not his to sell, but theirs due to agreement of 23 years ago. Legally, the deed has the man’s name on it. Should the proceeds be split w/1st wife because of the agreement (everything else was divided equally at the time of the divorce). Should all money go to sons? Should 2nd wife get any of it? The man wants to be fair and just, but WHO’S FARM IS IT
I am not either wife. One of the sons is my friend and he asked my opinion on the matter. He is concerned that 2nd wife is out to take the farm and any or all proceeds from it. She had already spent all of the man’s money on new cars, cruises to the Bahamas and fancy clothes. Now she is pushing him to sell the farm to pay all the debts she has accumulated b4 he dies from this illness and she is left having to pay the bills which are rightfully hers. He is a simple man with down-to earth tastes. I have known them all for 15 years. He would have never bought a new Cadillac (he drives a pickup) or taken a cruise. I fear my friend is right in that 2nd wife is draining his dad and now trying to take the last thing he has- the farm.

If I died tonight, who would be responsible to pay my credit card debts and student loan? I am 45, rent a room from a couple from my church , independent from any family members or significant others. I have enough money to pay for some funeral expenses. I don’t own anything of any value.