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Is a spouse responsible for living spouses debt if they are not listed on the accounts?
Wiki User
∙ 12y ago
They are typically going to be held responsible. The debt is used to buy goods and services. The spouse is considered to have benefited from these debts.
Wiki User
∙ 12y ago
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Is one spouse financially responsible for the other spouse's credit card debt?
Only on joint accounts are both spouses responsible for repayment of the debt. Unless, they reside in a community property state, if so, they are both responsible for debts incurred regardless of which one holds the account. Wisconsin and Texas treat some spousal debts differently when it pertains to community property laws. Some states have rather odd laws that might hold a spouse accountable if the debt is related to "living neccessities". These statutes are seldom used by creditors; if cited it is unlikely the plaintiff could provide the necessary proof.
Do your debts die with you?
In many cases, as long as the individual that has passed was the only person on the debt, then they are the only person that was responsible. If a spouse or additional person was listed on a debt as a joint owner, than the creditor can attempt to collect on the debt from the living even though the other joint borrower has passed away.
What is considered estate?
An estate includes everything that a living person owns - from physical possessions to financial accounts. Everything from clothes, jewelry, art, vehicles, antiques, homes, land, cash, checking and savings accounts, retirement accounts, life insurance, stocks, bonds, and more is considered part of a person's estate.In another sense an estate is all the property a person owns at the time of their death. It would not include any property owned as joint owner with the right of survivorship with another. This differs from the living estate which would includejointly owned property.
How much insurance is provided for IRA accounts by the FDIC?
As of April 2006 the FDIC coverage for IRA's was increased to $250,000 from $100,000. This only includes money invested in bank deposites such as CD's and Money Market accounts and does not include Mutual Funds, Stock, Bonds, or Annuities. If you have non qualified accounts with the same bank you would receive $100.000 in coverage for those per person in addition to the $250,000 for the IRA account bringing your total coverage in those cases to $350,000. Married couples are eligible for $700,000 using the above information with the ability to increase this to 1.1 million with using living trusts or POD (payable on death) accounts. Notes: Money Market mutual funds are not covered.
Can a US citizen living in Canada open a checkin or saving account in the US?
Yes. You are a US citizen so you have the same privilege as any other citizen. You can apply online for some bank accounts, so it will not be necessary to travel back to the US if you are not able.
Are you responsible for your living spouses medical bills in Virginia?
It is normal to have responsibility for it. The insurance often also required the spouse to accept responsibility and the primary insurance holder is always required to do so.
Is one spouse financially responsible for the other spouse's credit card debt?
Only on joint accounts are both spouses responsible for repayment of the debt. Unless, they reside in a community property state, if so, they are both responsible for debts incurred regardless of which one holds the account. Wisconsin and Texas treat some spousal debts differently when it pertains to community property laws. Some states have rather odd laws that might hold a spouse accountable if the debt is related to "living neccessities". These statutes are seldom used by creditors; if cited it is unlikely the plaintiff could provide the necessary proof.
If a dead spouse has credit cards in the lving spouses name that the living spouse did not know about or sign for is the living spouse responsible for the debt?
Yes, you should file an identity theft report with the FTC at their website, and make a report with your local P.D. of Sheriff's office and submit to creditors letting them know you were a victim of fraud. Good Luck
Which body system is responsible for creating a new living organism?
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Are you still responsible for your 18 year old daughter if she is still in high school?
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Who is responsible for medical insurance for children of a divorce living in pa?
The father is usually always the person responsible for the insurance.
