Will I inherit my husband's debt when he dies?

Full question:

My husband is terminally ill. Will I be responsible for debt in his name only when he dies?

Answer:

When a person dies with debt, their spouse may be responsible for that debt if the couple jointly owns property. However, if the debt is solely in the deceased spouse's name, the surviving spouse typically isn't responsible for it. It's important to review the specific circumstances and any applicable state laws.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

To avoid being responsible for your spouse's debt, ensure that debts are in your spouse's name only and not jointly held. Additionally, consider keeping your finances separate and not co-signing loans or credit accounts. In community property states, debts incurred during the marriage may be shared, so it's essential to understand your state's laws.