Madison, WI asked in Estate Planning, Consumer Law and Probate for Wisconsin

Q: Mom passed away June 2020 with only $300 in her checking & a car loan.

She had a car loan that was upside down. It has been repossesed already. The bank is saying we (me & my 2 brothers) will owe the difference of what they get at auction & what she owed. None of us were on the loan with her, it was solely hers. Do we actually have to pay that? Keep in mind her estate is broke. She had nothing.

1 Lawyer Answer
Thomas B. Burton
Thomas B. Burton
  • Estate Planning Lawyer
  • Eau Claire, WI
  • Licensed in Wisconsin

A: The good news about death, is that the debts of the decedent die with them. I am sorry to hear about the loss of your mother. Any debts she owed at her death would be owed by her estate. So if she only had $300 total to her name and that is the total amount in her estate, this is the limit of what any creditors could collect. If you did not co-sign for the loan and you are not on the title then you should not be personally liable.

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