Legal Question in Wills and Trusts in California
Hello, I am the executor of my step-fathers will as well as a beneficiary along with my sister. He died in June of this year in the state of California. He had a little over $2,000 in a checking account with Wells Fargo bank. He owed over $5,000 to Wells Fargo in outstanding credit card debt. They froze his account and ultimately settled the debt with me for all the $$$ in his account. He also owed over $6,000 to Chase bank in credit card debt, I spoke with the debt collection dept with Chase and informed them that he left no assets, I informed them of the situation w/Wells Fargo. My mother(deceased),my step-father(deceased) and myself are listed on a title to a mobile home as joint-tenants with rights to survivorship. Can Chase bank file a lein against the mobile home to recover the debt, I am in the process of trying to sell the mobile home. As executor am I responsible to pay this debt?
2 Answers from Attorneys
You need to make sure title is cleared up to reflect the deaths of the two other joint tenants, vesting sole title in you. At that point, Chase should be unable to reach the asset.
I agree with Mr. McCormick. Also, you as the executor, are not personally liable for your parents' debts.
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