What is an executor’s personal responsibility regarding a deceased’s loans?

Get Legal Help Today

 Secured with SHA-256 Encryption

What is an executor’s personal responsibility regarding a deceased’s loans?

My brother passed away and left his daughter as executor of his estate. She wanted to return his vehicle to the car lender. They told her that after they auctioned it off she would be responsible with what was left owing on the vehicle or else it would ruin her personnel credit. Is this right?

Asked on January 19, 2011 under Estate Planning, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am so sorry for your loss.  No, the lender is just playing games with her.  The debts of the decedent (your Brother) are the obligation of the Estate of the Decedent.  Your niece has no personal liability EXCEPT if she does something to breach her fiduciary duty.  Does she have an attorney helping her with all of this?  Then she should speak with him or her regarding the matter and the probate of the estate.  If the lender did not give the proper notice as to the repossession (is that what happened here as it is a bit confusing since you state that she wanted to turn in the car; one would then assume that she had possession), then she may have a valid claim against THEM or at least a valid defense to the claim of a deficiency in the sale versus the loan.  Estates can also be insolvent and file for bankruptcy.  Seek some help.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption