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My daughter died in Arizona, intestate, unmarried with no children. Her estate is insolvent. How do I proceed?
Phoenix, AZ
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Posted 28 days ago in Probate
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Her real estate mortgage & home equity loan of $170,000 exceed the value of her home (2010 tax assessment of 119,000). She had a 2000 Honda Civic -value $4000. Not much in the way of savings. Student loan debt of $21,500 & credit card debt of $16,500. Life insurance & 401(k) passed to me as beneficiary. Can I just walk away from her estate and do nothing? I live in NJ
Answers (1)
Lonnie K McDowell
This attorney is licensed in Arizona.
Posted 28 days ago.
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I would suggest taking the time to discuss your situation in more detail with an Arizona attorney, even if it is just paying for a 1 hour telephonic consult. From the limited information you have provided, it sounds like you have no obligation to start up a probate, and can just walk away.
Without descendants or spouse, the parents are equal heirs of the estate. You can probably transfer the car to yourself, using a small estate transfer process. You will be potentially liable to creditors of the estate for 2 years from the date of death for the value of all property transferred to you. If no creditor files a probate during that time, their claim lapses or expires. |
