Legal Question in Wills and Trusts in Illinois
Car title to be put in name of Estate
Hello,
My father passed away in Dec 2007. He had his assets in a trust and financial accts were POD with my sister as executor. One problem that we're anticipating is that his car, that will be paid off from the funds from his estate, will be titled by default in the name of my father's estate. If so, how does executor sell the car? Does the car have to be re-titled first to executor's name, then sold later under that name on title?
Thank you in advance for any help.
1 Answer from Attorneys
Re: Car title to be put in name of Estate
Your post is confusing, you say that all the assets were payable on death but then you suggest that there will be an estate? Which is it?
Take a look at the IL Secretary of State's Website, I've transferred these in the past. If I recall there were a couple routes, one was by using a small estate affidavit and the other involved getting an Attorney's Affidavit. Neither are particularly involved but you might need to use a lawyer for some minimal work.
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