What is the name of your state? NJ
My father past a way in January and my mother is trying to settle the estate. The problem is she does not know what to do. My father only had hand written will leaving eveything to my mother. The only assests to the estate are approx $8K in an investment account, old truck ($500.) and car which had a loan that was not paid off. As for debits he had the car loan of about $4000, a credit card of $10,000 and several medical bills for about $4000. They did own a home together that was sold prior to his death and some of the proceeds have gone to purchase another home and the remiaing amount was spent or given away as gifts.
Since the credit card was in his name only what is my mother responsiblity to pay? Same for the medical bills? What determines what gets paid out of the money left? Currently she is using the remaining money to live on, so nothing will be left soon. What can the credit card company do to my mother? Are they entilted to any of the assests?
Is some type of probate required if thier was no filed will?
If so how can probate be avoided to save money?
Any help is greatly appriciated.
Thanks,
Rich
My father past a way in January and my mother is trying to settle the estate. The problem is she does not know what to do. My father only had hand written will leaving eveything to my mother. The only assests to the estate are approx $8K in an investment account, old truck ($500.) and car which had a loan that was not paid off. As for debits he had the car loan of about $4000, a credit card of $10,000 and several medical bills for about $4000. They did own a home together that was sold prior to his death and some of the proceeds have gone to purchase another home and the remiaing amount was spent or given away as gifts.
Since the credit card was in his name only what is my mother responsiblity to pay? Same for the medical bills? What determines what gets paid out of the money left? Currently she is using the remaining money to live on, so nothing will be left soon. What can the credit card company do to my mother? Are they entilted to any of the assests?
Is some type of probate required if thier was no filed will?
If so how can probate be avoided to save money?
Any help is greatly appriciated.
Thanks,
Rich