Car Lease Responsibility

[springerdog1]

My brother is named as the beneficiary of my living well. I currently have a car lease. Would he be responsible for the lease balance if I die?

 

[army judge]

He wouldn't be responsible for ANY OF your debts. Your estate might be, but he wouldn't.

 

[springerdog1]

Since he is named as the beneficiary of my estate wouldn't he have to pay the balance due out of the funds he receives?

 

[mightymoose]

The company could simply repossess the vehicle. A leased vehicle is not yours to give. It belongs to the dealer.

 

[springerdog1]

I want to make sure he is not responsible. What is the best way to get a definitive answer, as the finance company has yet to provide a clear answer.

 

[Betty3]

Generally the "executor" of the estate would be required/responsible to see that all "debts" are paid/taken care of before distributing any assets/income to any beneficiary. Since this is a leased vehicle, it may just be given back to the dealer as mightymoose noted.

 

[springerdog1]

I appreciate the help. Before I posted this, my thoughts were because there would be money in the estate he would have to pay off the balance of the lease.