If the couple Does Not reside in a community property state then a spouse is not responsible for the other spouse's debts when said debts are solely incurred. If the couple does reside in a CP state it does not matter who incurs the debt as the law assigns the married couple equal rights to assets and equal responsibility for debts.
it is approx 35k
The average 401K savings balance for a 50 year old married couple is about $480,500 on the low end and about $1.2 million on the high end. This is after working and saving for 28 years.
Average debt is 16,120
The average consumer credit card debt is $15216 in the US. The average household owes $7,098 from on their cards. In total the US is owed $11.19 trillion in debt.
A married couple is seen as a economic unit, so to speak. So the widow is responsible for the debt.
1000
it is 25 to 30
If the couple Does Not reside in a community property state then a spouse is not responsible for the other spouse's debts when said debts are solely incurred. If the couple does reside in a CP state it does not matter who incurs the debt as the law assigns the married couple equal rights to assets and equal responsibility for debts.
No. The only exception would be a married couple residing in a community property state.
it is approx 35k
Only if the married couple resided in a community property state.
How can a unmarried couple who have split up get out of mortage and credit card debt.
The average 401K savings balance for a 50 year old married couple is about $480,500 on the low end and about $1.2 million on the high end. This is after working and saving for 28 years.
Yes. It is almost universal that a married couple share equal ownership of all assets and liabilities.
If the account was not joint, and the person was either not married or was married and did not live in a community property state, the debt becomes part of the estate and is subject to state probate procedures. Joint account debt becomes the responsibility of the surviving account holder. Debt incurred by a married couple that lived in a community property state, regardless of a joint or single account, becomes the responsibility of the surviving spouse.
Only if the married couple lived in a community property state.