QT Lost 1 Million Dollars

#fearandpodcast #hasanabi #willneff #hasanpiker #qtcinderella #austinshow

[goten]

Opening up credit cards in your children’s names to pay off your own debt IS CRAZY

[riggboat]

Every single adult should be teaching their child that you NEVER pay a SINGLE penny on behalf of the deceased. A single cent of payment is interpreted as claim of the debt, and you will inherit those payments and debt onto yourself. NEVER do this.

[TheMUTATOR]

So glad he spoke up and explained that to her. Insurance is the most annoying world to navigate. Only reason I know any of it is because I used to work in it.

[downtownnikka]

I was VERY fortunate to have my good friend Mark. He was my father’s lawyer and a family friend. Took care of the entire distribution process after my father died and refused any payment.

There are good people out there.

[chewyanddogs]

Many employers have these as part of the comp plan. If you are younger they are also much cheaper. If your loved one has a lot of debt you'll be paying that off before heirs get anything

[IceifritGaming]

When my grandfather passed away everything was willed to my grandmother... When she passed away we all found out that Grandma had a half a million dollar life insurance policy on herself on top lol. She had gotten it a long time ago with a locked in rate.

[Nenernener]

I feel like we need an educational podcast where they come in to teach QT & viewers about life insurance, etc.

[Nutqais]

I love how this was edited it flows nicely and a great story overall!

[Ocean_Maiden]

We assumed my FIL had life insurance. Unfortunately since he had heart failure and had to quit his job for health reasons we learned the life insurance he did have was for freak accidents and not natural death. We wish we had known years ago to get him the right plan. We had to pay for all of the costs ourselves but the nurses where so nice and told us do not pay them. We do not inherit his debt to the hospital that his Medicare pays for what they will and the hospital has funds for things like this. Hospice was so kind and sweet.

[jshadow]

My brother in laws mom was putting his name on all the bills and credit cards when he was a kid and when he tried to get a bill in his name for the first time, they were like yeah, when you pay off this 6k bill you owe us and he freaked out thinking someone stole his identity and eventually found out it was his mom and his only options were to pay off the debt or send his mom to prison.

[makeshiftmiki]

My dad died in May of terminal cancer. I had moved home to take care of him for 2 years because his wife wasn’t emotionally capable of caretaking. Over these two years he told us almost every day that when he dies his two life insurance policies are to go towards paying off the mortgage on the house he designed/built for us (his 6 kids) the year I was born. In his will I was willed half the property and my step mom was willed the other half (to make establishing a trust or LLC easier- I’d been given half to represent me and my older siblings, and she had been given half to represent my three half-siblings). She was the only one listed on the life insurance, so when that money was released in July, she didn’t tell me, but took the money and bought herself a house in a different state. She then deeded her half of our property over to my dad’s brother (also has cancer) rather than to my half siblings like my dad wished. So now I have a 4k/mo mortgage and a sick uncle breathing down my neck and I’m trying to work with lawyers to establish an LLC and insurance for rental property, etc.
Watching my papa die for 2 years was easier to stomach than watching his wife run away w all his hopes and dreams for his family.

[SeanLKearns]

The life insurance also pays out to the benefactor. Often times life insurance like other forms of insurance is a scam. Basically the provider might use misleading paperwork to force the person to hand over their power of attorney in the case of an emergency. And then they simply move the money and say it doesn't exist when the family comes asking for it. And if you try to sue an insurance company you're gonna need a good lawyer and A LOT of money. Which if the head of household just died you probably don't have a lot of money.

[CakesbyJai]

My mom did it to myself and my brother. She still won't admit it to this day! She also got cable, an energy bill. So when we went on our own, we had to pay off the balance to get those things.

[Samusden]

You have to claim a life insurance policy she probably never claimed it

[DrMattHH]

I'm sure that QTC has an army of lawyers, but just in case she doesn't, she needs AN ARMY of lawyers!

[KSmith-kpjz]

The thing that sucks about a parent taking out loans and cards in your name is that you have two options:
1. Report the fraud and get your parent in legal trouble for identity theft.
2. Just deal with the bill and credit damage.
If you’re not willing to send mom/dad to jail (which many understandably don’t have the heart to do) there’s no winning.

[jamesgoerge]

QT should genuinely talk to an accountant or something she may already have one but she definitely needs to just go there and unload like it’s a therapy session bc stuff like that can be major problem down the line

[jeramieshoe]

I started my life insurance policy at 18 and im never going to stop paying into it. NEVER get term life insurance

[weirdscience]

my friend had the same experience of his mom making a credit card account in his name so now he has bad credit through no fault of his own

[JayBayy]

She borrowed against life insurance money and didn't pay it back 😂😂 classic