The Inheritor refused a car that had a large balanced due. She did not want to be responsible for the loan and the administrator returned the car to the bank. The bank sold the car for more than was due on the loan. The bank issue a check to the administrator in the decease's name. The inheritor now claims the money. Should that money go to the inheritor or the estate to pay for the new tires and the auto repair bills that were incurred before original owner passed away?
Estate Planning Attorney
I agree with Attorney Frederick in that more information is needed. If the money is the only money available to pay for creditors and/or administrative expenses (which include the reasonable handing of assets like the vehicle), then the interest in the property would have been used to satisfy that debt eventually. Otherwise, it would depend on whether the beneficiary actually relinquished his or her interest in the vehicle. A written disclaimer would extinguish all of her rights, but that is unlikely in this scenario. I would think it would be difficult for the administrator to prove that the beneficiary was giving up all interest in the vehicle. As such, the beneficiary may very well be entitled to the proceeds from the bank.
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7 lawyers agree
More information is needed. If there is only one inheritor, then she will eventually get the estate. But if someone else advanced administrative expenses, then they are entitled to repayment before distribution to the beneficiaries.
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6 lawyers agree
I agree that more information is needed as well. I would suggest that you speak with a probate attorney regarding the matter. Additionally, Florida Statute Chapter 739 (FLORIDA UNIFORM DISCLAIMER OF PROPERTY INTERESTS ACT) covers most actions to disclaim interests.
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Estate Planning Attorney
Once the inheritor refused to accept the auto(in writing) and the cash came into the estate-the cash would be used to pay the creditors.
The problem would be getting the inheritor to sign a final acceptance and receipt statement which will be needed to close the estate.
This will be handled by the attorney representing the PR.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.