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Help with being a personal representative to an estate.

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Fast510

Junior Member
What is the name of your state (only U.S. law)? Idaho

My sister passed in Colorado and I live in Idaho. She did not have a will or estate set up. Going to Colorado is out of the question for me.

I do not plan on getting an attorney to help with any of this.

I am becoming the executor of her estate and the only assets she has are her truck which is paid off completely. A 401K that was set-up through her last employer and whatever, if any, she gets back from filing her taxes.

Her debt is about $50-$60,000 through credit cards and school loans all of which are in her name only.

I have the Collection of Personal Property by Affidavit Pursuant to 15-12-1201, C.R.S. form from the state of Colorado, because her assets are worth less than $50,000, to become the executor of the estate and to obtain all of her assets that are "probate assets".

From the research I have done, I am not responsible to pay any of her debts out of pocket but rather through whatever funds in the estate that are "probate assets".

Are her 401K and the money she gets back from taxes considered "probate assets" and automatically considered funds in the estate to be distributed evenly between debt collectors as seen fit? Or am I entitled to those funds without them becoming a part of the estate?

Secondly, in Idaho there is a Small Estate Affidavit through the Idaho Department of Transportation that makes it possible for me to become legal owner of her truck as I am the successor of her estate, and her estate is worth under $100,000, among other requirements of which I meet all. The form can be found here: Idaho Transportation Department - VEHICLE SERVICES SECTION
and located under Vehicle Titling Forms - small estate affidavit.

From what I can see, using this form means I become legal owner of the truck and it does not have to be put into the estate as funds to be distributed between debt collectors. Does this sound correct?

And lastly, since there are insufficient funds in the estate to pay her debts off completely, I send whatever money possible in the estate if any, evenly distributed between collectors, along with a note stating that the remaining amount will not be paid off due to insufficient funds with a copy of her death certificate and proof that I am the executor to each debt collector?

Thank you for your time.
 


anteater

Senior Member
Tax refund - "Probate asset"
401K - Is there a living named primary/contingent beneficiary? If not, "probate asset."

How are you going to use an Idaho small estate affidavit for a truck belonging to a deceased Colorado resident?
 

Fast510

Junior Member
On the affidavit it asks the state/county the decedent last resided and where they passed away. It also asks where I currently reside. The truck is also titled in Idaho.

The only other thing the form could be for would be to title it in my name so that I could legally sell it and add those funds to the estate because I don't think debt collectors can just come pick the truck up. Technically it sounds like the only way it can get sold.
 

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