By Tim Barkley. February 2026.
Q: My wife passed away, and she had inherited some antique cars. We’ve kept them in storage. I think they’re still in her father’s name. I have a buyer. How can I sell them?
A: That’s a bit complex. You’ll need to have the title transferred from her father to her and then to you. You’ll need to get them appraised as of the date of her father’s death and as of the date of your wife’s death, and then open or reopen her father’s estate so the Personal Representative or “PR” can transfer them to her, then open her estate so her PR can either sell them or transfer them to you so you can sell them. If your father-in-law’s estate was probated the same PR can reopen the estate, but if the estate was never probated or the PR isn’t available, then you might need to start from the beginning. It’s the same with your wife’s estate. It’s a lot of work. It’s a shame the cars weren’t retitled in your wife’s name, at least.
Q: My father passed away last year, and while we were cleaning out the house we found an insurance policy on his life from back in the 1940’s, and the beneficiary was his mother, who died around 1970. The insurance company says the policy is still active and my father was the owner. We also found some savings bonds from the 70’s that were joint between him and my mother, who died in 2010. My father had a trust and his will says everything goes to the trust. I’m the executor trustee. Can I just cash in the bonds and the insurance policy?
A: Sorry, it’s not that simple. Because the policy has no living beneficiary, it’s going to pay to the estate of your father. Because the bonds have no living owner and your father survived your mother, they are also going to pay to your father’s estate. The insurance company and the US Treasury will only deal with the PR of the estate, not the trustee of the trust. You’re going to have to probate your father’s estate, get the policy and the bonds valued as of his date of death and cash in the bonds and liquidate the policy, and deposit the checks into the estate’s bank account. Then you can transfer to the trust and follow the trust’s direction. You’ll have to file tax returns and report the income to the IRS. I’m sure these were just forgotten. It’s too bad your father couldn’t take care of this before he passed away.
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Attorney Tim Barkley
The Tim Barkley Law Offices
One Park Avenue
P.O. Box 1136
Mount Airy
Maryland 21771
(301) 829-3778
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