What to do if I my husband passed away last month without a Will and had no assets except for a financed car?
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What to do if I my husband passed away last month without a Will and had no assets except for a financed car?
I still have not become executor of his estate since he did not have one. My concern is can the car company come after me personally even though I did not co-sign the loan. He only had it for 2 months.
Asked on September 8, 2013 under Estate Planning, New Jersey
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I am so sorry for your loss. The car lease is a contract between your husband and the financial institution and its terms will govern. In other words, read it. I would think that one of two things is in there: one, that the contract is cancelled (terminated) upon death OR that the estate assumes the liability. The estate - not you personally. If there is no estate then I would contact a lawyer to help you turn the car in and void the contract. Good luck.
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