What steps should we take if elderly father is deceased without will stills and owes four years on his 2012 car?

The children are not personally liable for any of their father's debts, so you can call the car lender and tell them to pick up the car. But the father's assets, the bank accounts, are subject to the payment of his debts. It is unlikely that the lender will pursue the matter and husband is not obligated to disclose this father's assets to the lender.

Call the loan company and let them take the car. Everything not in pay-on-death accounts goes equally to the three children.

If the bank repossesses the car they will sell it and sue for the shortage, if any. However, if Dad has no estate, they have no remedy. You have no responsibility. The bank acct. goes to your husband (Not part of Dad's estate), and it?s up to him to share or not with his brothers.

You can sell the car or turn it back into the bank to retire the debt.

The first thing that needs to be done Is to open an estate in the probate division of the Circuit Court for the county that your father in law lived in at the time of his death. As part of the probate process aimed notice will be published in a legal newspaper advising creditors that they have six months within which to file claims against the estate. All known creditors, such as the bank or loan company that has the loan on the vehicle that your father-in-law owned at the time of his death should be given actual notice in writing and told to file their claims with the probate division of the circuit court. The assets that will be part of the probate estate will be any asset that was titled in your father-in-law's name alone. If your husband is on his bank accounts (that is your father-in-law's bank accounts) as a co-owner, the money in those accounts is his but if there aren't enough other assets in the estate to pay those bills including the car loan your husband may have to take care of that loan out of the bank account that he owned with your father-in-law. You should check to make sure whether or not there is credit life insurance ? sometimes car dealers will convince car purchasers to purchase the type of insurance that will pay off the loan at the time the car owner's death. You will need to hire an attorney to take care of the probate proceedings for you. You have one year from the date of your father-in-law's death within which to open an estate. If the assets in the estate exceed $5 million federal estate tax return will have to be filed within nine months from the date of death. From what you've said it doesn't seem as though this will be an issue.

Are there any other assets? A house, etc.? If not, then contact the entity that is financing the car and tell them the owner is deceased and they can pick it up.

You may not want the car, but you inherited it along with the debt. You need to file a probate petition appointing someone as administrator of his Estate. Gather the assets, be careful that the money in the bank was not a joint account for "convenience". The money may not belong to your husband. Particularly if he had debts.

I'm always nervous when someone asks a question about one asset. A decedent's estate should be a unit everything he owned at death, and should be treated as a unit. If the car was all he had when he passed away, then, legally each of his three children owns a 1/3 interest in the car, subject to the administration of dad's estate. So, first, ask each kid whether they would like to pay the car loan and take the car. I'm guessing not, but be safe. If nobody wants it, see if the lender will take it back.

Let the lender repossess the car.

The executor of the estate should sell the vehicle and use the money to pay off the mortgage.

Talk to the people who financed the car. Let them know that your father-in-law is deceased, and see if they can help, but don't count on much. Legally, your father-in-law's estate owes the balance of the payments, and with a five-year note, the car is probably worth less than the payments still due on the note. It is very unlikely that the finance provider would take the car back and forgive the note, and likely that they would file a claim against his estate.

File a probate action.. sell the car if its value is more than is owned on the car note. If not turn it in..if you turn it in be mindful that the lender can come after the estate for any shortfall.