Legal Question in Wills and Trusts in Florida
brother's bankruptcy effect on father's estate
My father recently passed and we're having to go through probate. My Dad co-signed for a loan on my brother's property, which is approximately $50K. My brother has decided to file bankruptcy and is planning to try to discharge the property, and we're concerned about how this will effect my Dad's estate. In addition, my brother took $20K out of my Dad's house after he passed and he's already spent most of it. My question is, will his bankruptcy effect the estate if it is granted, and, what should we do about the $20K that he's already taken?
2 Answers from Attorneys
Re: brother's bankruptcy effect on father's estate
The estate will owe the $.
Re: brother's bankruptcy effect on father's estate
Your brother's bankruptcy could have the effect of sticking Dad with the entire loan. Nice! Depnding on the size of the estate, you may need to get the 20K back. Not sure what you mean by saying that he took money out of the house. If he took an additional loan, your dad would be responsible for that as well if he cosigned for it.
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