Legal Question in Wills and Trusts in Maine
probate/death
At time of death, by husband had the following: 1 vehicle pd in full with clear title in his name, 1 vehicle with outstanding bank loan in his name only, 2 credit cards in his name only, and our home in both our names. Since death, I have: obtained clear title for the first vehicle, paid off the 2 credit cards and the home loan. The only piece left is the second car loan. If I can no longer afford this payment, what happens? Will the bank repossess the vehicle? Will I lose clear title of the pd for car? Can they attach a lein to the pd for car or home? Will this affect my credit? Thanks for your help.
1 Answer from Attorneys
Re: probate/death
Did you open an estate with the Probate Court? If not, how are you getting title to the vehicle put into your name?
Any debt owed on the second car is estate debt, not yours. However, to the extent the estate has assets that would have gone to you, it is a concern of yours to maximize your inheritance. There are statutory exemptions of estate assts you are entitled to in priority of any creditor.
You probably do need to consult with a Probate attorney regarding this, and possibly other related estate claim issues. You can call me, and I also can refer you to a lawyer closer to your home.
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