My question involves collection proceedings in the State of: California
I am a cosigner on my daughter's student loans. In the event of my death and should she default in repaying the loans, what are the obligations of my estate (which is in trust)?
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My question involves collection proceedings in the State of: California
I am a cosigner on my daughter's student loans. In the event of my death and should she default in repaying the loans, what are the obligations of my estate (which is in trust)?
If she is delinquent at the time your estate is opened, your estate would notify the lender (as a creditor) of your death and the opportunity to present a claim against your estate. If she is not delinquent while the window for making claims remains open, or for whatever reason they don't make a claim, the estate will be distributed without regard to your status as cosigner.
Thank you.