Q: Do I need to go to probate or Can I do summary of assignment
My mom passed away 4/4/2015 with no will. She has land amd a poll barn that is paid for. She has a few cars paid in full but a lot of credit card debt. Can I do a summary of assignment or does this go to probate? Do I have become the executor since I'm the only child of hers and her husband passed away before she did. Am I responsible to pay the credit card debt even if her property isn't worth but maybe 16,000 her credit card debt is almost 30,000? The only debt she has is credit cards no loans out there. Do I sell her 3 cars piad in full amd the motorcycle and put that toward the credit card debt or do I keep the money? Thank you
A:
Short answer: You need to see a probate attorney ASAP and BEFORE you do anything more.
If the estate is 'upside down' (more debt that total assets) it may make no sense for you to do anything. Just 'walk away' and let the creditors fight over the scraps. You don't want to spend your own money settling your mother's debts.
If indeed the land, cars and other property is worth MORE than the debts, then going through the probate process may make sense. Without facts that are missing from this description it is impossible to know for sure. The REAL problem is if the death was almost two years ago, who has been paying taxes on the land, and does your Mom's estate even still have an interest in it?
The ONLY way to know what you should be doing is to seek local legal counsel and explore ALL the facts.
Good luck!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
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