If my parent owest the IRS & dies do I inherit the debt if only left life insurance?

there is no estate. no property left only life insurance proceeds. will my sister %26amp; I be held responsible for mom's 2007 income taxes not paid?If my parent owest the IRS %26amp; dies do I inherit the debt if only left life insurance?
You may not think there is no estate, but there is. And yes, all debts have to be paid before you and your sister get anything. Even if it is life insurance.If my parent owest the IRS %26amp; dies do I inherit the debt if only left life insurance?
If the life insurance directly names you and your sister as beneficiaries, the IRS is limited to asking for the cash value of the insurance (if there was any) and the amount of money spent on premiums--since this is money that could have been used to pay down the debt. Otherwise, the IRS has to show fraudulent intent.





If the money is left to the estate, it can be used to pay down the debt.





Otherwise, they
No, you do not inherit the debt; the parent's estate (however modest) does.





Life insurance proceeds are paid directly to the named beneficiary(ies) on the policy. They do not become part of the estate unless the estate itself IS the named beneficiary. The IRS COULD ask for the cash value of the policy, if any since that would be an asset of the estate.