Mom's Passing

[kinks711]

What is the name of your state? Pa

My mom passed away last week and I am the executor of her estate. She had a 90,000 annuity account with my brother as joint owner with right of survivorship. She had no property or any assets. She owned a 2003 Jeep Liberty with a balance to a bank that is higher than I can sell the car for (if I am allowed). She also had about 35,000 worth of credit card bills (11,000, 9,200, 5,700, 10,000) all visa and mc. I was wondering what to do with the car and credit card companies.

 

[JETX]

She had no property or any assets.

Are you sure?? Most everyone dies with at least SOME assets or property. In fact, your own post says that she had an annuity (which transfers to the JOROS) and a fairly new car. What about jewelry, insurance, checking account balance, furniture, etc.???

She owned a 2003 Jeep Liberty with a balance to a bank that is higher than I can sell the car for (if I am allowed). I was wondering what to do with the car and credit card companies.

Since it is unlikely that you could sell the car and pay the note, contact the bank and notice them of her death and ask them to recover the vehicle. As for the credit cards, you will need to notify them of her death and ask ALL creditors to file claims on the estate.

I would STRONGLY suggest you review the obligations of an executor as shown on the following site and possibly get some assistance:
http://www.pennsylvaniaestateplanning.com/estateadmin.html

Also, the following information:
http://www.pabar.org/pamphlets/estate.html
http://extension.aers.psu.edu/LAW/TransferPropertyAfterDeath.pdf
http://www.uslegalforms.com/lawdigest/small-estates.php/PA/PA-ET20.htm