S
son-in-law
Guest
My father-in law died about a month ago. He left no will, no instructions, and hardly any Estate. He was divorced, leased his car, rented his apartment, and had no life insurance or other property that we could find in his personal papers. His bank account has a beneficiary which is his youngest son so the bank account is not part of his estate. I as the son-in-law cosigned with him on the car lease. I made him get credit life insurance on the lease as a condition of my co-signing. (thank God). The credit life ins. paid off the entire balance of the car instead of the term of the lease. Now the car title is free and clear except for the fact that it still is in his name. The bank released the title to me with the lien satisfied. The car's approximate value is $9000. I am unsure of what to do now. Do we create an estate? Do we have to? Who is obligated to? Can the car title be transferred to one of his lineal descendants? If he owes any money to the IRS or other creditors can they come after the car? Any advice would be greatly appreciated.