Please Help

[JODI COLVIN]

MY FATHER RECENTLY PASSED AWAY WITHOUT SIGNING HIS WILL. HE HAD IT TYPED OUT, BUT NEVER SIGNED IT. WE HAVE A COPY OF IT AND ARE TRYING TO FOLLOW IT. HE HAD MANY CREDIT CARD DEPTS. HIS ONLY ASSETS WERE A HOUSE THAT HAS ABOUT AS MUCH OWED ON IT AS IT WAS WORTH AND A TRUCK THAT PAID OFF AT HIS DEATH. HE ALSO HAD A LIFE INSURANCE POLICY. AFTER WE PAID FOR HIS FUNERAL WITH IT THERE ISN'T MUCH LEFT. HIS WILL WAS THAT HE WANTED EVERYTHING DIVIDED BY THE THREE OF US EQUALLY. MY SISTER WAS HIS POWER OF ATTOURNEY BEFORE HE DIED. WE HAVEN'T REALLY DONE ANYTHING YET BECAUSE WE DON'T KNOW WHAT TO DO. HE DIED IN DECEMBER. WE HAVEN'T PROBABTED THE WILL OR ANYTHING BUT COULD WE WITHOUT IT BEING SIGNED? ARE WE RESPONSIBLE FOR HIS CREDIT CARD DEPTS? CAN WE SELL THE HOUSE? IT WAS SOLELY IN HIS NAME. PLEASE ADVICE US. WE DON'T WANT TO PAY ALL THESE CREDIT CARDS IF WE DON'T HAVE TO. THANK YOU. BY THE WAY WE LIVE IN ALABAMA.

 

[ALawyer]

First, my condolences. The Good news is that you do not personally owe money on his debts. The bad news is that his debts do not die with him, but are owed by his estate, and thus to the extent that you as children might get anything from the estate, the money and assets have to first be used to pay the executor fees and lawyers, and then the creditors.

I suggest that you all consult a lawyer in the area in which he lived and let the lawyer straighten things out. Perhaps the lawyer can negotiate down the credit card debt, or perhaps the banks will not file their claims on time. The unsigned will does not count, but if he left, say 3 kids, and was going to divide the money equally among the 3 it may not matter as that's what happens if he dies leaving 3 kids and no wife or children of deceased kids anyway. Even if the will would have divided thngs unequally, you can informally agree to do the that way, or any other way you want.

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[advisor10]

3-8-2002

DEAR JODI:

Sell the house.

How much is it worth?
How much are the debts?

You can't probate the will, but you or your attorney can file paperwork at the county courthouse to become administrator of his intestate ("without a will") estate, and will eventually have all of the children declared legal heirs to the house and have your names officially added to the deed so true ownership will be established when you get ready to sell.

SINCERELY,

advisor