Legal Question in Wills and Trusts in Indiana

Mother died and left no money

My mother died and had no assets or cash other than about $75 and a 15 year old car. If she had any debts, am I responsible for them? She lived on her own and lived on Social Security. Are there any legal things I need to do? She had no will.

Thanks!


Asked on 3/14/02, 9:21 am

1 Answer from Attorneys

Mary Ann Wunder Wunder & Wunder

Re: Mother died and left no money

Since her estate is not large enough to warrant probate (it's gross value would have to be more than $25,000), you can transfer the assets to her heirs (presumptively her children) by affidavit. Title to the car can be transferred 5 days or more after death with the affidavit and a death certificate. If the bank account was in just her name alone, the bank can hold the money for 45 days and require a consent to transfer with your affidavit and death certificate.

To avoid liability for any debts, you can file a closing statement that the estate is insolvent. The filing fee will be $124 to do so. Attorney fees will vary according to the attorney you use. This is not required, but would assure that you would not be liable for debts up to the value of the bank account and car.

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Answered on 3/14/02, 4:50 pm


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