Springfield, MO asked in Estate Planning and Probate for Maryland

Q: Do I need to open an estate?

My father recently passed away, I am joint owner on his banking accounts and beneficiary on his life insurance. He did not own real estate or any other significant assets. He had purchased a car recently and had a loan on it. Do I need to open an estate, or can I pay off the loan on the car and transfer the title? He also had an old pickup truck that was paid off, likely worth less than $1000.

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1 Lawyer Answer
Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Estate Planning Lawyer
  • Crownsville, MD
  • Licensed in Maryland

A: To transfer any title, an estate must be opened. However, if the only asset is an automobile worth less than $50,000 it is likely that it would qualify as a "small estate" which offers an easier, streamlined procedure with less paperwork.

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