If my father passed away with no assets, what do I do?

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If my father passed away with no assets, what do I do?

He had no Will but had debts and loan payments. His house value is about equal to what is owed and for legal fees. It seems like a lot of work, to see no inheritance at the end. I don’t know what to do.

Asked on January 17, 2013 under Estate Planning, Minnesota

Answers:

Matthew Majeski / Majeski Law, LLC

Answered 8 years ago | Contributor

Legally, you have no obligation to do anything at all unless a probate proceeding has started and you have agreed to be the personal representative of the estate (executor).  If you've determined that the end result would be cost-prohibitive to you, that may be your best course of action.  A Minnesota estate planning attorney could review the situation for you and advise accordingly.

Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC

Answered 8 years ago | Contributor

Hello. I am sorry for your loss of your father.  It sounds as though you may want to seek a private attorney to provide you with legal advice at this time. You may want a private legal consultation with an attorney at this time. I recommend you phone several attorneys in choosing, because it is very important that you feel a sense of great safety and trust in the relationship. A person facing a situation such as you describe may have several legal problems or worries or concerns which may be addressed in the private consultation.  All the best to you.


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