Posted on: 20th Aug, 2009 10:21 am
My father is having a good property in NJ.But he is having bad debt from near and dear one, from some of his friends.
Now my father is planning to prepare a will, but all these bad loans are popping up, should he keep separate pie for these loans in property or insurance amount will take care of it?
Now my father is planning to prepare a will, but all these bad loans are popping up, should he keep separate pie for these loans in property or insurance amount will take care of it?
Hi fredwaltz,
A will can help your father in distributing his property amongst his heirs. Once the property is inherited by the heirs, they can pay off the loan. Or else, he can keep a separate amount to pay it off or his insurance can take care of them.
A will can help your father in distributing his property amongst his heirs. Once the property is inherited by the heirs, they can pay off the loan. Or else, he can keep a separate amount to pay it off or his insurance can take care of them.