My husband borrowed $25K against his mother's estate upon her death, to help his son with a loan. As his wife and survivor, am I required to pay back the debt to his mother's estate upon his death?
jkrout: Give exact date of death of your husband and date of death of his mother to the estate attorney. Does your name appear, either on the loan app or on the final docs of the loan agreement? If not, you personally are not responsible for payback of any monies coming from his mother's estate. Attorneys for her estate will try to seek remedy of course, but you do not have to pay . Check docs, if you have them.
It appears that this question begs for more information. The way that I understand it, your mother-in-law died, and your husband borrowed money from his mother's estate. From that, I would assume that he was the executor of her estate or had permission to borrow money from the executor. Since it was borrowed, I would assume that repayment would be required. It apparently was not money that he inherited, but rather that he borrowed. It would seem to me that borrowed money is only a loan and must be repaid.
K Gabriel, answered your question, if mother died before your husband, then the executor of her estate seeks amount. If husband died before mother then executor for husband repays mother's estate.
Both my mother and MIL are vey generous. We have borrowed from both, as have a lot of people. I would not think of pocketing the cash, without straightening it out with the other relatives.
He borrowed money from his mother's "estate" - does this mean he took out an "advance" on his own inheritance? Was he even left an inheritance once his mother died? What does the executor of her estate say about any of this?
I'm not totally sure of the sequence of events, but if your husband borrowed money from his mother before she died, and then he died before her, his estate would still owe the money to his mother. It would be a debt of HIS estate, owing to his mother. If that debt were not paid off before his mother later died, that debt would not be discharge but would now pass to his mother's estate. Thus, the executor of his mother's estate would be under an obligation to try to seek repayment of that outstanding debt so the executor can distribute it to his mother's heirs (or beneficiaries under her will, as the case may be).
Another question that I have is are there other beneficiaries who would share in the estate? If your husband is the only beneficiary, then to me it's a moot point. But if there are other beneficiaries to the estate, then logic tells me someone has to pay back the loan. Isn't the son making payments, which should go back to the estate?
This doesn't make sense to me. An estate does not have the power to lend money. Once a person dies, the estate is distributed according to the terms of the will, or if there is none, according to state intestate laws. Was it the husband who actually borrowed the money? Who lent it to him? The executor of the estate? Who is that? This does not seem kosher in general but maybe you have more info that can clarify. I think married couples are jointly liable for any debts one or the other incurs, either way.
Are we required to? No.