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Big Medical Debt and Wills

March 29th, 2011 at 03:13 pm

On my way back in from dropping off my daughter at high school this morning, Mom stopped me to tell me she was redoing her will. She's needed to do this for a while. Ever since she drained the IRA and put Dad in the nursing home. She still wants me to be executor (which, ugh, but I agreed to it, with my older sister as back up if I can't).

Anyway, she said that if she dies before I am done paying back the money I owe her for the medical debt, that the debt is free and clear. Before it was expected that I would either continue making payments to my sisters for their part of the inheritence (which I don't think could be legally enforced as I never signed anything, but I still would have done it) or give up my third of the house. But since I've been here taking care of her since the fall she's decided to just make the loan void on her death.

Quite frankly I don't think she'll be dead before we finish paying her off. She's in pretty good health. But it's nice to know that if she were to go unexpectedly, that that financial burden would be lifted.

Now DH and I just need to get around to making our own will. We've been putting it off for too many years. Even if we just do one of those form letter ones and take it down to the CU to have it notarized, that's better than what we have now, which is pretty much nothing.

2 Responses to “Big Medical Debt and Wills”

  1. Kayla Says:

    That's great that she took off your medical debt! Good luck making your will. :-)

  2. debtfreeme Says:

    What an amazing gift she has given your family!

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