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deceased fathers estate, life insurance policies & bank accounts
Van I still get the money's in my deceased fathers bank accounts, benefits from the life insurance policies even though his Indiana estate has foreclose when I live
in California?
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Not being familiar with the laws in Indiana or how your dad's bank account and Life Insurance policies was written. My advices be as always to consult the attorney who is assisting you in settling his estate.
That being said the word foreclosure generally is used pertaining to real property such as his home or any other real estate your dad may have owned that is now in default to the loan companies. Even this is subject to review if your dad was current with his payments until he took ill.
Here again you would need a lawyer to go to court with you to fight the bank or loan company for time to dispose of these assets and pay them off. Foreclosure is harder for them when the borrower is deceased. Unfortunately the banks take advantage of your sorrow and try to get the family to release the property to them in a foreclosure unknowing that the Estate is on the hook for any shortfall in the outstanding debt the bank doesn't recover. Again depending on the laws of Indiana who ever is the Executor of the Estate could be on the hook for the short fall.
Bank accounts and life insurance policies generally do not fall within the realm of what banks can attach as part of foreclosure. Please see an attorney before you lose what your dad tried to leave you.
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