Recent death and car question---probate?

Question

Recent death, car is owned outright. We are the executors of the estate. All 3 siblings agree to giving their share to 1 sister due to prior caregiving. Will states everything to be equal. Will the car HAVE to go into probate like the house?

Answer 1

yes

Answer 2

Yes but Probate is usually only 30 days and Probate is to give the creditors time to make a claim against the Estate, but usually no one makes any claims while the Estate is in Probate, so after the Probate period then you can divide the assets and as long as you all agree on the car I don't see it being a problem.

Answer 3

Check with the attorney.  Could you "sell" the car to the other sibling for $1.00, so the rest of the estate could then be distributed equally?  I'm no attorney, but thought this may work.

Answer 4

If you all agree, I see no problem. The 3 of you are the executors. Check with the lawyer who drew up the will.

Answer 5

What is the car worth?  probably not much.  In any case to play it safe and to determine the debts you may want to wait until the probate period is over to give it to the one sibling.

If there are debts to be paid and the house does not cover it, then they debtors could ask for the car in lieu of cash.  No debtors? then it can go to the one sibling as they all agree on doing so.