Legal Question in Wills and Trusts in California

Credit Card Debt More Than Value of Estate
My mother has terminal cancer and isn't expected to live much longer. She has a Will naming me as the sole heir. We are joint tenants in a Mobile Home, and also each have a recorded declaration of Homestead. There is an outstanding home improvement loan, which I've been paying myself in monthly installments. It's my understanding that the home would automatically transfer to me, and as long as I keep up the payments on the loan the home is mine to keep or sell as I wish. I believe the same is true of our joint checking account, which has very little in it. Her estate, not including the items we hold jointly, doesn't amount to very much and her credit card and other debts far outweigh the estate's worth. Am I still responsible to repay all her debts, if there really isn't anything of monetary value in the estate to pay it with? Is Probate necessary in this instance? I am disabled myself and it would be quite a hardship on me if I had to come up with extra money to pay for Probate and the bills and everything else, especially when there's not even enough for me to give her a proper funeral!

Asked on 7/17/00, 7:37 pm

Ken Koury Kenneth P. Koury, Esq.

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Re: Credit Card Debt More Than Value of Estate

Anything held in joint tenancy automatically becomes the property of the joint owner (you) and the credit card companies are just out of luck.

Answered on 9/10/00, 6:41 pm

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