is my wife responsible for my credit card debt if i die?
237235
The simple answer is no—the debts of your parents, partner, or children do not become yours if they pass away, nor will your debts be transferred to someone else should you die. ... For example, debts or money owed through joint and co-signed accounts become your responsibility should the other co-signer pass away.
437629
In most cases you will not be responsible to pay off your deceased spouse's debts. As a general rule, no one else is obligated to pay the debt of a person who has died. There are some exceptions and the exceptions vary by state. ... If state law requires a spouse to pay a particular type of debt.
1467900
All assets are in both of their names. Is my mother liable for the credit card debt? ... She said in New Jersey, family members, including the surviving spouse, are not typically obligated to pay the debts from their own assets unless they have co-signed the obligation.
445994
Any debts you leave behind when you die can eat up assets that you had hoped to leave to heirs. In some cases, family members could even be on the hook for your debt. ... The executor of your estate, the person responsible for dealing with your will and estate after your death, will use your assets to pay off your debts.
726309
Jointly owned property can be seized to pay off the debts even if one spouse has nothing to do with running up the debts. ... In general, unless the credit card debt stems from a jointly owned account, or the creditors are going after jointly owned property, you shouldn't be responsible for your spouse's credit card debt.
431928
Spouses are only responsible for each other's community property debts, which are bills incurred during the course of the marriage. Spouses are not responsible for each other's separate debts, however. ... You do not have to pay your deceased spouse's debts after he or she dies.
1214166
What Happens to Credit Card Debts after Someone Dies? When someone dies, it's not true that any credit card debts are automatically written off. Instead, any individual debts must be paid using the money the deceased has left behind. Only if there isn't enough money in the Estate may the debt be written off.
328129
But check state law. Close to 30 states have what's known as "filial responsibility" statutes. Those require adult children to pay for a deceased parent's unpaid medical debts, such as those to hospitals or nursing homes, when the estate cannot. ... But you will be responsible for making payments on it going forward.
1343033
In Illinois, the deceased person's family is not responsible for their debt – but their estate is. If your spouse dies and is in debt, and you did not co-sign for this debt, debt collectors are not allowed to call you to demand payment.
239999
When a person dies, his or her estate is responsible for settling debts. If there is not enough money in the estate to pay off those debts – in other words, the estate is insolvent – the debts are wiped out, in most cases. ... In that case, the child would be responsible for that loan or credit card debt, but nothing else.
1409797
You are not responsible for your partner's debts just because of your relationship, whether you are married or not. However, you may have become liable for his or her debts because you signed a loan contract as a joint borrower or guarantor, or because you were a director of a family company or a partner in a business.
317154
In Texas, credit card debt goes to spouse after someone dies. ... Credit card debt is not secured, so there is often no recourse for the credit card company to get its money back following probate. However, since Texas is a community property state, a person's spouse is responsible for any debt incurred during the marriage ...
583621
In most cases you will not be responsible to pay off your deceased spouse's debts. As a general rule, no one else is obligated to pay the debt of a person who has died.
1011053
The answer is in the case that the deity has a debt before death in an amount greater than the estate or only left the debt without any assets to the heir. ... That means If the deceased is in debt with no inheritance, heirs are not responsible for that debt.
1001790
Generally, family members are not responsible for any debts for someone who has died. ... Funeral expenses, taxes and secured debts are the top. Unsecured debts, such as credit cards, are near the bottom. If the estate does not have enough money to pay back all the debt, creditors are out of luck.
171248
As a general rule, you are not responsible for the debts of your spouse. ... If your spouse incurs medical debts during the marriage, you are liable for the debt. Even if the bills only come in the name of your spouse. Even if you did not sign for the debts.
493483
Who is responsible for your car finance debt after your death? ... If you took out a joint agreement, which is quite common for a personal loan situation, then the other person becomes fully responsible for paying off the debt. In most other cases, your debt will become part of your overall estate after your death.