Submitted by stuffleira t3_yqjwly in personalfinance
Dad passed away this last Sunday in the ICU after many years of battling heart failure, kidney disease, diabetes, and other slew of medical issues. He was 82 (I’m 26 and he had me at 55). It is my mom and my two half-brothers.
Dad passed away without a will but had a life insurance plan of about ~$60k with my mom being the direct beneficiary. Dad's funeral and burial will cost about $18.9k, and Dad has two credit cards totaling $18.2k, leaving the final payout to my mom of ~22k, excluding pending medical payments from Dad's hospital stay.
Both of my brothers will not dispute that all of the assets should go to my mom. The synopsis of this post is to figure out how to reduce debt payments that need to be paid from the estate and the next steps with probate or what to do. I have no idea what I'm doing and am trying to reduce the financial burden on my mom.
Any advice?
Thanks all,
Grieving Son