Legal Question in Wills and Trusts in Georgia
I am the administrator for my brother who passed away April 2010. He had a house with 2 mortgages and was foreclosed, he was unemployed for 2 years and had no assets except for a 2005 Hoda Civic with a free title. He has 2 chilkdren under 18 and wants them to have the car. I received a letter from a collection agency wanting over $9000.00 for the second mortgage. He has no savings, checking or retirement funds. When I filed the paperwork as an administrator the only asset was his car worth approximately $2000. The children want the car what is my responsibility to the creditor?
1 Answer from Attorneys
Your fiduciary duty and legal duty to the estate and creditors is to pay the debts of the estate prior to distributing property to family members (with some exceptions not apparently involved here). Intentional breaches of your duty can lead to personal liability for the assets, charges of conversion of estate assets, or worse.