What is the name of your state (only U.S. law)? Nevada
My father passed away this summer, and he was still paying a car loan. Mother is in nursing home with no need for car and money is definitely an issue, I am handling all of her affairs and was named co-trustee to their living trust.
Car was purchased in California, while they were married and living in Nevada. About $10k is left on the loan. Can I just let the bank have it back? Or with that go down as a repo on her credit.
Part two of the question is... I will likely have to get mom on medicaid to pay for the nursing home, we are private pay right now since the medicare ran out and money is going fast! My other option is to pay off the car myself, and buy it from her, will that affect or prevent her going on medicaid down the road? Due to logistics, i live five hours away in CA, it would be easier for me to pay it off, get it in my name and either trade it in or sell it than do it remotely.
Thanks in advance.
My father passed away this summer, and he was still paying a car loan. Mother is in nursing home with no need for car and money is definitely an issue, I am handling all of her affairs and was named co-trustee to their living trust.
Car was purchased in California, while they were married and living in Nevada. About $10k is left on the loan. Can I just let the bank have it back? Or with that go down as a repo on her credit.
Part two of the question is... I will likely have to get mom on medicaid to pay for the nursing home, we are private pay right now since the medicare ran out and money is going fast! My other option is to pay off the car myself, and buy it from her, will that affect or prevent her going on medicaid down the road? Due to logistics, i live five hours away in CA, it would be easier for me to pay it off, get it in my name and either trade it in or sell it than do it remotely.
Thanks in advance.