Credit card debt and taxes due, are these paid before beneficiary are paid out of the IRA acct?

I assume that you are the person to execute the will? Yes, you pay off the credit card debt, any other remaining debt, and the taxes due in the final tax return even if that means cashing in the IRA before any money is distributed to any beneficiary. The money in any of her checking and savings account will need for the bank to put into an the estate of ___ account from which you as the person executing the will pays all of these final bills plus funeral expenses. It probably would be a good idea to have a CPA to prepare the final tax return which you would sign as the executor of the will and state on it that she is deceased. You ma even need to send them a copy of the death certificate. The CPA can inform you how you sign the final tax return as the person who is executing their will. Good luck and sorry to hear about your mom's impending death. Hospice provides a great service. They provided a wonderful service for my step-mother who died last May.

If the Ira has a living beneficiary named and not just your moms estate, the value of the Ira does not need to pass thru the estate but goes directly to the beneficiary regardless of the decendents debts.

Would definitely talk to the register of wills in your county. If answers are not sufficient you can usually look up info online what is and is not passable they an estate.

Have you been paying your mother's estimated taxes this year from her money? What is keeping you form paying her credit card debt off? How old is that debt? What tax creating income does she have? How long does the doctor think she is going to live since she is now under Hospice Care?

My suggestion would be as her durable POA to pay off her credit card and have her taxes done as soon as possible to get that paid, if possible, before she dies.

I don't have answer to this question but I will be hoping an expert can provide pertinent answer. My recollection is that credit card debt is uncollectable after a person dies, the CC can file a claim in probate....but if tbose IRA are in Trust and smaller estate holdings besides IRA, then no probate?? But I hope someone else can weigh in with a better answer(s).

I am no expert either but some estates are insolvent.

Thanks, I kinda hate to be harassed about her cc debt. If I can I will pay it but in order to pay it I have to use her i.r.a. Account and I'm afraid the taxes will knock her balance out. What to do, what to do?

You may need to see a CPA tax person.

Estate tax return is not that hard to complete if you only have a few assets and debt. You could probably print out or pick up forms from register of wills plug your figures for a rough estimate. If this doesn't work you may need professional help which means another debt. Good luck

Me again, I'm not at the "estate" point yet, as my folks are still alive, but to prepare ij advance, I've got several good books from our local Public Library, and would encourage others to check out some recently-published books. Our county library also has some good articles available for online reading, and/or download. Also check out your State's attorney general website, ours has some good info on estate & probate questions.