Don't have any joint accounts. Marriage does not give the legal right to a spouse to use the other spouse's name or information to obtain credit. Credit even for married couples is reported separately on credit reports unless it is jointly incurred. The exception is if the married couple reside in community property state. In a community property state all assets and all debts incurred during the marriage by either spouse is considered equally owned and equally owed regardless of which one entered into the financial transaction.
Not for private debt. Just make sure that the spouse is not a co- applicant. The spouse is responsible only if they are co-applicant.
In Georgia, as in most states, life insurance proceeds to a named beneficiary become the property of the beneficiary and are therefore not accessible to the creditors of the decedent. Of course, this does not apply to joint debt between the spouses or any debt solely in the name of the surviving spouse. In short, if the surviving spouse's name is not on the debt of the decedent, the surviving spouse has no legal obligation to pay such debt.
Yes the debt is paid out of the estate. If the spouse was a partner in the debt, they can be responsible. If they had a card in their own name, they may have to pay. Consult a probate attorney in Illinois.
our house is under my husband's name and it is about to be foreclosed. will lender come after me later for any unpaid debt?
The estate of the deceased is responsible for the debts. The spouse is going to have to pay the debt as a beneficiary of the home purchased by the spouse.
credit card debt is reserved to all the names that were used when the credit card was applied for so even in divorce situations where the judge has split the debt it is not legally removed from you if your name was on the account
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 card was only in the deceased's name AND the surviving spouse was not a listed authorized user AND the surviving spouse never used the card for his/her own purchases, the spouse is not responsible for the debt. The estate is liable for the debt, so no assets of the estate can be distributed to the heirs at law or by will until the debts of the estate have been paid. If the debts exceed the estate's assets, it may file for bankruptcy of the estate under state law. Consult a local experienced bankruptcy lawyer.
No. Not unless the creditor can prove the debt was for items you both used.
No, Tennessee is not a community property state. Married couples living in non community property states are not responsible for debts incurred solely by either spouse.
If a spouse dies without a will and no funds, any bill in his name alone is not payable. If the debt has both names,eg a credit card with both names) yes you are responsible.If a will is left and there outstanding debts, these must be paid from the proceeds of the will.--- A: Even in community property states, debt may be incurred by either or both parties seperately. If the bills are in the deceased spouse's name alone, then no -- there is no transmission of debt. If the bills are in the name of both spouses, then the surviving spouse is responsible for the debt. Questions that are more difficult apply when there's equity in the estate of the deceased spouse, such as a jointly owned house with a mortgage. This may vary from state to state, and should be answered by an attorney.
The estate would be responsible for the loan. If that is satisfied, she can keep the house. She may be able to take out a loan to pay off the debt.
If the couple resided in a community property state it is possible for the surviving spouse to be responsible for debt incurred by a deceased spouse even though he or she was not an account holder. Texas and Wisconsin are not considered "true" CP states as they treat solely incurred marital debt somewhat differently as do the other CP states.
You can, but its fraud.
No, I have never heard of an person after remarriage using the name of an ex. If you have children they keep the father's name unless the new spouse adopts them, but for you to keep the name I would think would bother the new spouse. Many women keep their maiden name, but that is different.
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
No, if it is your debt only and your name is not on the car. Unless you used the car for collateral for a loan, they can't put a "lien" on it anyway.
Yes if the account if joint regardless if the actual card did not have their name on it.
Only if it's a jointly held account. Otherwise, a person's credit card debt dies with him. * One exception might be a surviving spouse where the couple lived in a community property state. He or she is sometimes held accountable for debts made by the deceased spouse depending upon the circumstances under which the debt was incurred.
you're gonna have a load of debt.
Using innocent spouse relief due to your partner not working gives you the burden of taxes in your name and clears them of any tax debt in their name which goes on the joint house hold.
The assumption is that the wife inherits at least half, if not all, of the husband's assets. But the estate has to liquidate all the credit card debts before the can transfer any remainder to the spouse. One way or another, the spouse ends up paying the debt. The spouse has some right in all real property owned by the husband. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.