vehicle my spouse left

by Nyumwai
(Chicago, IL)

I live in Chicago, Illinois. My husband died 19 months ago. He left a vehicle he was still paying for. At the time of his death the remaining balance to be paid on the vehicle was $7000. I was not a co-signer on this vehicle. There was no money for me to continue paying for the vehicle. The balance remaining on this vehicle is something I can afford now. Can I legal take over the debt and possess the car? The vehicle cpmpany want to just get the car because it is a good car with a value more than double the $7000.

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May 20, 2014
Husband dies and my name is on the house
by: Anonymous

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If you are the beneficiary of the life insurance policy and not your husband's estate, you can do what you want with the proceeds. If your husband's estate is the beneficiary, the policy proceeds must be used to pay off as many of the debts that your husband owed at the time of his death as possible before any money can be distributed to his beneficiaries according to the terms of his will.

If you want to be sure that you are doing everything correctly, we highly recommend that you schedule an appointment with a probate law attorney in your area. The cost of the appointment should not be significant and your money will be well-spent. Otherwise, you may make mistakes that could be costly.

Jun 28, 2012
vehicle my spouse left

So sorry about the death of your husband. Did he leave a will? If he did, then the will should include the name of the person he wanted to serve as executor of his estate during the probate process. That person is responsible for filing the will with the probate court in your area, inventorying all of your husband's assets, like the car, and then paying as many of your husband's debts as possible out of those assets, including the car loan. Some of your husband's assets may have to be sold to pay his debts. Once the executor has paid as many of the debts as possible, your husband's remaining assets can be distributed to his beneficiaries as spelled out in his will.

If your husband did not have a will, then you or someone else needs to go to the probate court and ask that it appoint an administrator for his estate. That person will do what an executor would do.

If there is not enough money to pay the car loan out of your husband's assets, the car will either have to be returned to the lender or you may be able to work out a way to keep it. Most likely, the lender would require that you apply for a new loan so that it can be sure that you will be able to keep up with the payments. However, you run the risk that the car will be repossessed in the meantime if the loan payments are not being made. You should consult with the executor or administrator of your husband's estate about the situation. If neither of you knows what to do then you ought to set up an appointment with a probate attorney in your area. I also recommend that you read our deceased person’s debt FAQ.

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