Estate Law Questions? Ask an Estate Lawyer.
Regarding the car loan, my sister has approximately a balance due of $18,000. When we looked up the value of the car on Blue Book, it showed the value to be approximately $24,000 to $27,000. My sister also had some furniture, clothing and household goods of some minor value. I assume there is no need to probate these assets. She did not own a home or other assets. Regarding the car, I assume we let the finance company repossess the car or we pay off the balance and then sell the car. If we do the latter, are we required to put the car in probate for her creditors? We are trying to stay out of probate since there are very little, if no assets.