Legal Question in Wills and Trusts in Vermont
insolvent estate
My Mom died a year ago. My brother, sister and I are
the beneficiaries of her estate. However, there is an
outstanding loan on a mobile home. She owns another mobile home out right and the executor has been trying to sell the mobile home to pay off the debt on the other one. However, it isn't selling and the estate's debts just keep multiplying since there are no other assets. Can the beneficiaries be liable for her debts? Another complication is that the mobile home that isn't paid off is on my property. My Mom also stipulated in the will that I would inherit the trailer if I paid 2/3 of the loan. What might happen
and am I liable for her debt?
1 Answer from Attorneys
Re: insolvent estate
unless you want to assume the loan, you are not responsible for any of your mothers debt.
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