Living trust problems

[gwennerstrom]

What is the name of your state? Indiana

Hi

I am the excutor of my deceased father's Living Trust. He left me his house in the trust, but died before he could sign over the deed at the County Court House. I've been paying the mortgage since he died in August, and on the Van he bought in May. I notified his creditors with his death certificates, most sent their condolences and wrote off the debt.

However, the Van was repossed by the finance company, without any notice, after they agreed to my taking over the loan. The Van was especially arranged to handle my dad, and had a value of $34K. The finanace company has already sold the Van for $10K and has now put a claim against my dad's estate for the balance of the loan, £24K.

My dad's estate is now being forced into probate and the house, I'm told will have to be sold to satisfy his debts.

I don't want to sell the house, as I have no where else to go, and the bank has agreed for me to take over the mortgage if I get the deed straightened out. Plus it has many sentimental memories, as I grew up in the house with two loving parents and a brother and sister. The house has been appraised at $35K.

My questions are:

1) Why can't the Living Trust, giving me the house, be seen as the same as signing the deed papers?

2) What good is a Living Trust if the estate can be forced into probate?

3) If need be, can I, as the excutor of my dad's estate declare bankruptcy, on behalf of the estate, to avoid the selling of the house?

Kind regards
Jerry

(I've also posted on the Bankruptcy forum)

[seniorjudge]

1) Why can't the Living Trust, giving me the house, be seen as the same as signing the deed papers?

2) What good is a Living Trust if the estate can be forced into probate?

3) If need be, can I, as the excutor of my dad's estate declare bankruptcy, on behalf of the estate, to avoid the selling of the house?

You need an attorney very bad, like right now. Your facts and these questions show that you have no idea what you are doing.

[gwennerstrom]

I have seen two attorneys since my original post, and I was hoping to get some better advice on this forum.

1st attorney gave me 30 minutes free consult and told me to just walk away because the creditors couldn't come after me, just the estate.

When I asked him my 3 questions he said that he'd do some research and I should come back in 2 weeks and he have my answers and it would cost me $250 for the research for the answers

The 2nd attorney gave me 30 minutes free also, and said he wanted more time to study my case and he wanted $400, and would represent me for $4500 if it had to go to court.

So if no one on here has any help I guess I'm SOL because I don't have the money to pay for an attorney, and any legal aid that's available is 2 years in waiting.

And you're right I don't know what I'm doing - that's why I'm looking for help.

Jerry

[seniorjudge]

I would keep shopping for lawyers.

1) Why can't the Living Trust, giving me the house, be seen as the same as signing the deed papers?
Yes.

2) What good is a Living Trust if the estate can be forced into probate?
There may have been something wrong with the way the trust was written or there is probate on assets that were not in the trust.

3) If need be, can I, as the excutor of my dad's estate declare bankruptcy, on behalf of the estate, to avoid the selling of the house?
This would not avoid the selling of the house.

Go to a title company that services the county where the land is located and get a current owner and lien report. Then take that to several different attornies till you can find one who will help you for a reasonable amount.

[gwennerstrom]

Thank you

Jerry