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Re: Sallie Mae loan servicer / death of co-signer

Helpful from a legal perspective. Bolsters our case. They're still being adamant, but we're unable to get statements/demands from them in writing, if that tells you something. Attorney is going to come down on them like a ton of bricks. :happy Thanks so much!
by cprgrfx
Thu Mar 14, 2013 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae loan servicer / death of co-signer
Replies: 93
Views: 17141

Sallie Mae loan servicer / death of co-signer

Facts are simple My dad co-signed three Sallie Mae school loans for my daughter. Daughter has been making timely payments for over two years. Father (co-signer) passed away last month. SIMM associates, Sallie Mae loan servicer, insinuates loan balances are due in full because of death of co-signer. ...
by cprgrfx
Wed Mar 13, 2013 11:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sallie Mae loan servicer / death of co-signer
Replies: 93
Views: 17141

Re: PA Inheritance Tax -- Life Insurance Question

Definitely not a taxable estate at the federal level. This is just a PA inheritance tax question. If life insurance proceeds aren't taxable at all (usually, but certainly in this case), does the transfer of policy imply a transfer of assets? Assuming Jon is correct, above, then is the cash value use...
by cprgrfx
Sat Mar 02, 2013 12:06 am
 
Forum: Personal Finance (Not Investing)
Topic: PA Inheritance Tax -- Life Insurance Question
Replies: 10
Views: 1024

Re: PA Inheritance Tax -- Life Insurance Question

The four sons are the beneficiaries, and I as one of the sons and co-executor would become the new owner of the policy, I suspect. Thanks, all, for your answers so far. I see your point, Jon, but I'm surprised that life insurance is not mentioned specifically among the intangibles. My mother is divo...
by cprgrfx
Fri Mar 01, 2013 10:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: PA Inheritance Tax -- Life Insurance Question
Replies: 10
Views: 1024

PA Inheritance Tax -- Life Insurance Question

State of Pennsylvania (if that matters): My father, who passed away recently, had a life insurance policy on my mother, who's still living. The policy remains in effect, and I'm estimating its cash value to be $10,000 based on some recent statements. The beneficiaries are his four children, and ther...
by cprgrfx
Fri Mar 01, 2013 9:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: PA Inheritance Tax -- Life Insurance Question
Replies: 10
Views: 1024

Re: Beneficiary IRA Question

Thank you so much. That's just what I needed. I am running this past the estate attorney as well just to confirm everything.
by cprgrfx
Thu Feb 28, 2013 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beneficiary IRA Question
Replies: 5
Views: 490

Beneficiary IRA Question

Background: Decedent passed away this year (2013) and left two beneficiary IRAs which are approximately equal in value -- one to spouse and one to several children to be split equally. Decedent had NOT taken mandatory distribution from his IRAs before passing, and my understanding from the IRS is th...
by cprgrfx
Wed Feb 27, 2013 11:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beneficiary IRA Question
Replies: 5
Views: 490

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