Legal Question in Wills and Trusts in Arizona
estate question
Prior to my fathers death he put my name on his bank account and vehicles that were paid off. They were registered as him or me on the paperwork. When he became ill I removed his name from the account and vehicles so only my name appeared. He also had a trailer that he was making payments on that did not and does not have my name on it. There is no will or trust. Does the finance company have the ability to try to collect any debt from me?
1 Answer from Attorneys
Re: estate question
The trailer is part of your father's estate and the debts are not wiped out by his death. But you may be able to get them to take less than the face value of the debt. If the trailer is not worth much more that what is owed then tell them the situation and that they should repossess it or greatly reduce the debt so you can sell it at a profit and pay them the lesseer amount.
Does your father have other assets? If not, you do not have to go through probate; look at the Nolo Press books for a good idea as to what you need to do.
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