Legal Question in Wills and Trusts in Ohio
HI. My mother and me live in ohio. Mother has 1 large debt, (car loan) and 1 large asset (house). She intends to leave me the house in will. I think the car loan is going to have to be settled in probate, by selling the only asset (house) to payoff loan, thus I will no longer receive it. Is this scenario correct?
Asked on 7/08/11, 1:59 pm
1 Answer from Attorneys
Elizabeth Schmitz
Elizabeth S. Schmitz Attorney at Law
I would suggest that your mother consult with an estate planning attorney who can assist her in accomplishing her goals. There are ways to structure her estate so that the house would not need to be sold to pay off her debts.
Answered on 7/08/11, 2:27 pm