Is a financed automobile considered an asset in regards to probate?
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Is a financed automobile considered an asset in regards to probate?
My mother recently passed away and there were 12 payments left on her auto loan. I would like to pay it off and title it in my name but I do not want to put any money into it if it vulnerable to her creditors.
Asked on August 7, 2015 under Estate Planning, Arizona
Answers:
Anne Brady / Law Office of Anne Brady
Answered 8 years ago | Contributor
Yes, if the car has any value beyond what is owed on it, and if your mother died owing other people money, then the executor of her estate I assume you should sell the car and use the proceeds to pay the debts.
Anne Brady / Law Office of Anne Brady
Answered 8 years ago | Contributor
Yes, if the car has any value beyond what is owed on it, and if your mother died owing other people money, then the executor of her estate I assume you should sell the car and use the proceeds to pay the debts.
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