brother's truck

[ChicoMaki16]

Recently my brother passed away in Mtn. View, CA, Santa Clara County, CA and signed a holographic will written in my hand witnessed by me and a friend of his. He was making payments on a truck loan to a bank. The truck is worth 11K bluebook and he has paid all but 6K or so on the original 11K loan, he put down 9K. The bank is wanting it back and there are two payments due and one coming up on the 15th. Do I have a right to find a party to buy it from me, or give me let say, 8K, I give him the truck, then I pay the bank the balance of the loan? The will states I am to receive his monies and property in the event of his passing to do as I see fit. I didn't mention debts as I thought his insurance would cover all. What about the debts?

 

[lwpat]

Here is a link from the CA state bar that may help

http://www.calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10581&id=2189

You need to submit the will for probate and apply to be named as the Personal Representative. Insurance passes outside the estate. Everything else in his estate should be sold as necessary to pay his debts. For the truck the bank will have firsties on the money from sale of the truck and the court will give you a list of the order in which you are to pay the remaining debts. You are not personally responsible for any of his debts but you will have to see that they are paid provided there is enough money in the estate.

 

[ChicoMaki16]

bro's truck

Thanks for the advice lwpat. If he had money in his accounts and I got them from his bank via an affidavit of Declaration ....(forgot title) saying he had less than 100k and the bank cut me a cashiers check and I don't pay his debts but keep it would that be wise? I mean assuming all this true how easy it to trace to me, if his creditors do so,or can they? There is a fax copy of the holographic will in a bank office somewhere with a death certificate, all faxed over to the office.

 

[lwpat]

No, that would not be wise. That would be illegal.