2007-02-20 11:06:48 · 9 answers · asked by bert54 1 in Business & Finance ➔ Personal Finance
It depends on your state, and if the debt was incurred individually or jointly. In some states the debt of one half of a married couple is considered the debt of both. Others allow debts to remain separate if indicated at the time they are incurred.
2007-02-20 11:13:05 · answer #1 · answered by Brian G 6 · 1⤊ 0⤋
NO: If your husband die his estate has to pay his debts. You will not get anything until the debts are paid. If I die, my wife is better off assuming my debts. The insurance paid to my estate, would be in her pocket if she does. If she refuse to assume my debts, the insurance will pay off my debts and give her the balance.
At this time I am in debt $257,000 - I have 20 years to pay the bill. My wife can put the $257,000 to work and make the monthly payments I make now. I made sure that she has enough income monthly to pay the debts.
2007-02-20 11:14:21 · answer #2 · answered by whatevit 5 · 0⤊ 1⤋
If he or you both owned a house, property, had a bank account, or anything else together then yes you will have to pay his debts in order to keep the things he owned or the things you owned jointly. If you think he is going to die in the next few years you really should have everything transferred into your name.
2007-02-20 11:11:12 · answer #3 · answered by blue_girl 5 · 0⤊ 1⤋
Whatever his name is on will be taken till all his debts are paid in full. If one of those "somethings" that his name is on is YOURS then YOU WILL LOSE 1/2 OF IT.
YOU are not personally liable though some companies WILL come after you and hound you to pay and they can do this. You will simply have to fork money over for a lawyer to get out of it.
Probate can drag for years. Be ready to lose half of everything.
2007-02-20 11:22:48 · answer #4 · answered by Kitty 6 · 0⤊ 1⤋
As a spouse you are obliged to pay his debts.
2007-02-20 11:16:20 · answer #5 · answered by Anonymous · 0⤊ 1⤋
His estate would have to pay them and for you that means yes you have to pay them.
2007-02-20 11:20:50 · answer #6 · answered by elaeblue 7 · 0⤊ 0⤋
Yes.
2007-02-20 11:12:25 · answer #7 · answered by goodsense 2 · 0⤊ 1⤋
YES OUT OF HIS ESTATE ASSUMING HE HAD ONE.IF NOT YOU MAY BE LIABLE ACCORDING TO YOUR STATES LAWS AND WHAT THE DEBTS ARE FOR.GOOD LUCK.
2007-02-20 11:10:59 · answer #8 · answered by dixie58 7 · 0⤊ 1⤋
no he does out of anything he owed or willed
2007-02-20 11:09:37 · answer #9 · answered by k dog 4 · 0⤊ 1⤋