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  1. #1
    Join Date
    Feb 2008
    Posts
    2

    Default 7 Year Old Medical Debt In Oklahoma

    My mother was seriously ill 7 years ago and now has a $110,000 bill that she has been paying $35 monthly. She and my Dad are on social security and almost 70. There is no way they will ever be able to pay that bill. Their estate is set up in trust of which I am executor. The estate is mostly the house . Will I have to sell the house to pay the bill or should I just keep paying the $35 when they are gone?
    Thank You, A

  2. #2
    Join Date
    Jan 2008
    Location
    Toledo, OH
    Posts
    16,307

    Default Re: 7 Year Old Medical Debt In Oklahoma

    At $35 a month, you're looking at a total of nearly 262 years to pay off that debt.

    It will be expected that all outstanding debts be paid from the estate, so yes, you may well have to sell the house to satisfy the debt.

  3. #3
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: 7 Year Old Medical Debt In Oklahoma

    If the trust is set up correctly, all their titled assets (ie house, car) can be placed in the trust, their estates will not need to go through probate to distribute those assets -- they will pass under the terms of the trust (outside of probate) they have created to the named "beneficiaries." If all their titled assets are placed in the trust, their estates will not need to go through probate to distribute those assets.

  4. #4
    Join Date
    Feb 2008
    Posts
    2

    Default Re: 7 Year Old Medical Debt In Oklahoma

    So technically there are no assets to sell with which to pay such a large debt..?

    Thank you for your response. A

  5. #5
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: 7 Year Old Medical Debt In Oklahoma

    If there are no assets to probate, the creditor will be out of luck.

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