Legal Question in Wills and Trusts in Massachusetts
death of my Wife
Am i responsible for a car loan that my wife took out for my Son .She passed away @ 56 due to canceron 1/19/09 I am the exector of her will and she left anything she owned to me we really don't have much except a home and a few vehicles
3 Answers from Attorneys
Re: death of my Wife
Your wife's estate is responsible for the loan on the car not you. That means any cash from her estate.
The real question is do you want to keep your son's car and can he make the payments. However, you are not obligated for her guarantee.
Re: death of my Wife
Please accept my condolences on the loss of your wife.
Unless you personally guaranteed the loan as well, only her estate, of which you are the executor, is liable, should your son default on the loan.
You should retain an attorney to assist you with the probate of her estate which may even be able to use the abbreviated version called a voluntary administration if she held a limited amount of assets solely in her name.
Good Luck!
Re: death of my Wife
Please accept my condolences for the recent loss of your wife to cancer.
You should retain an attorney to assist you in the probate of your late wife's estate.
The estate must pay all her just debts and account for her property. As the others have said, a simplified process may be possible if she had less than $15,000.00 in her sole name when she passed away.
Either way, you are not personall liable for her automobile loan.
Please feel free to contact my office if you would like to discuss the matter further.