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If your husband had a sole proprietor business and dies is his wife responsible for the debt after the business is dissolved?
Wiki User
∙ 15y ago
This previous answer is incorrect. A sole proprietorship is an individually owned entity, it is legally the name or service of that said person. Therefore the company dies when the owner dies, you cannot not operate "Mary Smith Accounting CPA", if you are not Mary Smith. In order for the company to be passed on or rights transferred it would have to be a partnership, LLC, Joint venture, or a corporation. You as his wife would not be responsible, he has unlimited liability, no one could try to collect the debts of his company from you, but from his estate. -"yeah if its in his will that it goes to her then it will but if not the government will break the company up and sell it piece by piece
Subject to laws of your country - it will depend on how the business was structured. The debt may remain with the business and not the personal estate. In a non incorporated personal business it is generally with the estate any residual which may pass to the wife but not a debt of the wife. Always seek legal advice."
Wiki User
∙ 15y ago
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You cosigned on a loan without mu spouses knowledge - Have you rished his business?
You are responsible for co signing the loan. If you are partners with your husband in his business, have a loan together on the business, then yes, the business becomes an asset that could be attached if the loan you cosigned on should be defaulted on.
Is a widow responsible for her husband's debt?
The husband's estate is responsible. If she was a co-signer or beneficiary of the debt, she will have some responsibility.
Is wife responsible when husband gets sued?
No
Can a wife be held responsible for debt her husband incurs due to a failed business venture?
No, unless she were a co-owner of the business or a co-borrower of cosigner of loans that were business related. A creditor might try to hold a spouse responsible if the couple reside in a community property state. In such circumstances the non owner spouse might wish to consider using an "innocent spousal defense."
Is a husband responsible for his wife's debt?
It really depends on the situation.
Is my husband intiled to my sole proprietor business?
No, your husband is not entitled in any way to this business. You should set who you would want to take over if something happens to you in place. You can do this by filing papers yourself or contacting an attorney.
Who is responsible for paying taxes of the deceased?
His estate...which is actually him continued after death for business purposes. I have received a tax levy in my deceased husband old business account from 2004 Am I responsible
If husband is sued for credit card debt in Virginia can a sole proprietorship business checking account owned by wife be frozen or attached if husband has nothing to do with the business?
No, Virginia is not a community property state and therefore the non-debtor spouse cannot be held responsible. The business itself or any accounts pertaining to it, would not be subject to action by the husband's creditors.
You cosigned on a loan without mu spouses knowledge - Have you rished his business?
You are responsible for co signing the loan. If you are partners with your husband in his business, have a loan together on the business, then yes, the business becomes an asset that could be attached if the loan you cosigned on should be defaulted on.
Is a widow responsible for her husband's debt?
The husband's estate is responsible. If she was a co-signer or beneficiary of the debt, she will have some responsibility.
Is the wife responsible for her unemployed husband child support?
No, your husband is responsible for his half. You can pay it for him but he should look for a job.
Is the husband responsible for the deceased wife's debt in Florida?
In many cases the husband will be held responsible. They are deemed to have benefited from to goods and services.
Can my new husband be held responsible for my ex-husband's unpaid debt?
Sadly, no.
What did it take to be a model Roman woman?
Okay, here's the ideal Roman woman. She had to be chaste. She had to be loyal to her husband and do all in her power to advance his business or career. She had to run the house and was responsible for the upbringing and education of the children. Oh, and the more children she had, the greater her esteem. If her husband were away on business or in the military, she was responsible for many of his business affairs and if her husband were in public or political life, she had to see that his positive attributes remained in the minds of those people who were able to help him advance. Now that was the ideal Roman wife. In reality very few lived up to the male expectations.
Are a divorced husband and wife still a family?
No. Their legal relationship has been dissolved.
Can i be responsible for your husband medical bills if separated?
You may be responsible, if it is not a legal separation.
Is wife responsible when husband gets sued?
No
