In Colorado, the spouse will indirectly be responsible. The estate must resolve all debts. Until that is done, the spouse cannot inherit anything.
Are spouses responsible for a deceased husbands commercial bank loan with several co-signers?
Indirectly. The estate of the deceased husband is responsible for resolving all of his debts. Since the widow is going to be the primary beneficiary of the estate, she will inherit less because the estate has to pay the debt.
The estate is responsible for the loan. If the spouse wants to keep the car, they may have to assume the loan, if the bank allows them to. Otherwise the vehicle may have to be sold.
yes
Technically the estate is responsible for all the debts of the deceased. The spouse, through the estate, has to pay off the debts.
The estate will be responsible. The husband indirectly will pay, as they cannot inherit until they are resolved.
In Florida the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
The debts are paid out of the deceased's estate, and this can include things that are jointly owned. Anything entirely in your name is safe. Even if the deceased's assets and joint assets are not enough, you are not responsible for the remaining debt.
Yup, sure are. But then my guess is that you urged him to look into the service therefore you should want to pay them anyway... It WILL go on your credit.... Set up a payment plan- most places will do $10 a month....
The debts of the deceased are the responsibility of the estate. The estate will resolve the debts before you get any money. Consult a probate attorney in your jurisdiction for help.
I'm not trying to be funny, but if you were married (legally) to him at the time of death, yes - who else would be responsible for it?
She is not directly responsible. The estate is going to be responsible. And since she will likely be getting the bulk of the estate, paying off the debt will reduce her amount.