If my brother is named as the benficiary of my living Will and I currently have a car lease, would he be responsible for the lease balance if I die?

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If my brother is named as the benficiary of my living Will and I currently have a car lease, would he be responsible for the lease balance if I die?

Asked on July 8, 2013 under Estate Planning, Arizona

Answers:

Nathan Wagner / Law Office of Nathan Wagner

Answered 8 years ago | Contributor

No, your estate would be responsible for the lease. So the company that leased the car could make a claim on the other assets you leave behind. Also, you may want to take a look at the lease, because it may allow your brother to become a successor lessee, so he could take over the lease payments and use the car if he wants to. 


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