What to do with property from insolvent estate?

Asked 10 months ago - Justice, IL

My dad passed away with very little assets (old 1997 pickup, inoperable 1970 motorcycle, $2000 in cash, a piece of vacation/camping property worth, at most, $3000, and an old camper worth about $500). Since the cost of probate would eat up the value of his assets, the executor of his will decided not to pursue probate. (Cannot do small estate affidavit due to credit card and medical debt and mortgage on mobile home where he was living) My question is what can we legally do with this rusty pick up, motorcycle, and camper? Not looking to sell, but what to physically do with it. Can we junk it? Sell it for parts? They are all currently stored on my aunt's property. We have titles, but since no probate, cannot transfer.

Attorney answers (2)

  1. Alan James Brinkmeier

    Contributor Level 20

    2

    Lawyers agree

    Answered . Probate will not be necessary in Illinois where an estate is valued at less than $50,000. In that case, an interested party may issue a small estate affidavit to collect any debts owed to the decedent.

    You need an attorney. You say you won't consider doing a small estate affidavit, but your reasoning is questionable.

  2. James Di Bella

    Pro

    Contributor Level 8

    1

    Lawyer agrees

    Answered . Good Morning. There are some basic facts missing from your question. Did your dad have a will? If not, the Intestacy Laws of Illinois will govern how the estate's assets are handled. You should talk to an attorney before you distribute your dad's assets.

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