Legal Question in Wills and Trusts in Ohio
estate
my dad is deceased. he bought a car 3mos. before his death. he was 75, so he had no insurance to cover his death. our family neither wants the car or the payments. we would just like to give the car back and be done with it but i know there's the problem with neg. equity. what are our options. his estate is really nothing but a life ins policy worth 20,000. and thats in my moms name. she is not mentioned in the will because they divorced several years erlier but my dad still wanted her to be beneficery of his life ins.
2 Answers from Attorneys
Re: estate
If there are no probate assets, there is nothing availablt to pay the lender. Life insurance goes to the designated beneficiary and is not subject to payment of estate debts. All the lender will get is the car.
Re: estate
If there are no probate assets, there is nothing availablt to pay the lender. Life insurance goes to the designated beneficiary and is not subject to payment of estate debts. All the lender will get is the car.
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