Not unless she or he were a joint account holder. However, the estate may be responsible for paying the debt before the funds can be distributed. Check with a local lawyer.
No, if they were not joint debtor's with the deceased they are not responsible for any of his or her debts.
As long as the couple did not reside in a community property state and the spouse was not a joint account holder the spouse is not responsible. However depending on the probate laws of the resident state, a portion of the deceased's estate may be used to pay outstanding debt(s).
Alabama is not a community property state, the surviving spouse is not responsible for creditor debt unless he or she was a joint account holder.
Tennessee is not a community property state, if the surviving spouse was not a joint debtor he or she is not responsible for debt incurred by the decedent. The exeption would be, if there is a home that is encumbered by a mortgage and/or loan the surviving spouse will have to continue the agreement whether he or she was named on the lending contract in order to retain possession of the property.
Yes. But since you will not be around to pay them, your estate will be responsible for paying them. If you are married and your spouse files a joint return for the year you die, your spouse could be responsible.
If there is no inheirator of the deceased's estate no one is responsible. However if you have inheireted the decease estate and accepted that then you also have to accept the debt. Payment of debt should come from the estate of the deceased. If the estate of the deceased is without sufficient resources to pay the debts and the deceased does not have joint obligation with anyone, the total of debt should be added together and the estate should be divided equally among the debts. If anything is left after paying all debts of the deceased, the remaining resources can be divided among suvivors or beneficiaries.
No, surviving family members are not responsible for the debts of deceased persons if they were not listed as a joint account holder or borrower.The exception being a surviving spouse when the couple resided in a community property state.
If the surviving family members are not joint account holders or a surviving spouse who was living in a community property state, they are not responsible for the debts of the deceased. The deceased estate (if any) is to be probated (when required) and any assets are used to pay outstanding debts in their order of priority according to state law. FYI, authorized signers of credit card accounts are not joint account holders and not responsible for debt incurred. Likewise in some CP states the surviving spouse cannot always be held accountable for all debts solely incurred by the deceased spouse.
Depends on the state you live in. * If the married couple resided in a community property state the surviving spouse might be held accountable for the debt even though the loan was only in the name of the deceased spouse. In all other states the surviving spouse is not responsible for debt that is incurred solely by a living or deceased spouse.
If the account was joint then the surviving spouse is responsible for the debt. If the account was held solely by the deceased spouse the surviving spouse is NOT responsible for the debt and is not legally obligated to repay such nor to correspond with the creditor or collector. If the surviving spouse so chooses he or she may inform the collector that the account holder is deceased and also inform the collector that they should "cease and desist" all contact with the family. Florida is not a community property state. Marital property is generally treated as Tenancy By The Entirety, which makes it immune to creditor action if only one spouse is the debtor.
No, not unless they have signed a joint mortgage (you borrowed money jointly) with the deceased sibling.A dead person's debts are settled out of the person's estate. If the estate does not have enough money to settle the debts then they "die" with the person.
The estate of the deceased. Also anyone that was listed as a co-signer or joint account holder.
Whose name was on the account? If it was a joint account, then the surviving owners of the account "inherit" the portion contributed by the deceased spouse. If only the name of the deceased was on the account, and it is not a community property state, then the entire account belongs to the estate and will be distributed according to probate rules of the state.
No. A joint account is not a probate asset. It belongs to the survivor.
If you were not a joint debtor you are not responsible for repayment of deceased parent(s) debts.
If you were not listed as a joint account holder you are not responsible for the debt.
No. The credit card debt will become a part of the probate procedure and will be handled according to the distribution laws of the state in which the person resided at the time of his or her death. Please be advised, it is not unusual for a creditor/collector to attempt to convince a surviving spouse that they are responsible for the debt especially if said spouse was an authorized user of the account. Be that as it may, the surviving spouse or other family members are not responsible for the debts of the deceased unless they were a joint account holder.
In most cases the debts of the deceased are the responsibility of the estate. However, you are considered to have benefited from his not paying taxes. If you filed a joint return, you may be held responsible. Consult a probate or tax attorney in your jurisdiction for help.
That depends on the nature of the debts- whether they are joint debts. If they are solely debts of the decedent then his estate is responsible. You should speak with an attorney to determine your rights and obligations.
Illinois is not a community property state, therefore a spouse who is not a joint account holder is not responsible for the credit card debt of the other spouse.
In most instances the account holder is the only one responsible for the debt. If the deceased was married and lived in a community property state, the surviving spouse could be held accountable for the debt depending on the circumstances. One factor would be the state probate laws and what nonexempt assets might be part of probate proceedings. 2nd Answer Joint cardholders are equally responsible for the debt with the primary cardhold. If the primary has passed away, the joint will be responsible for timely repayment of the debt. Authorized cardholders are not responsible for the debt at all. If there is no joint cardholder, the regular estate laws for your state apply.
No, not directly. Indirectly the non debtor spouse may find that he or she has a shared joint account levied or joint property encumbered by a judgment against the debtor spouse.
Get an estate opened. The executor of the estate will deal with the debts and assets. If the debts are joint responsibility, they won't go away.
The surviving spouse is only responsible for credit card debt if the account were joint or the married couple lived in a community property state; (Texas and Wisconsin treat marital debt differently than other CP states). Death benefits from life insurance with a named beneficiary or SS death benefit are not subject to creditor action for repayment of the deceased debts.