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This means that a surviving spouse must pay the debts of the deceased spouse using jointly-held property, such as a home. States include Alaska (if a special agreement is signed), Arizona ...
If you're thinking about your own loved ones while you're still alive, you're ahead of the game. Learn more about what you can do to prepare.
Spouses: Some states require community property — that is, property shared between spouses — to be put toward debt when a spouse dies. These states include Arizona, California, Idaho ...
They’re a spouse in a state where the law requires them to pay certain types of debt. They’re a spouse in a state that requires them to use jointly-owned property to pay off debts of their ...
When the Deceased's Estate Pays If the surviving spouse isn't responsible for the debts, then they're paid from the deceased's estate. Assuming there are assets in the estate, then the executor ...
Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
The death of a spouse can be emotionally and mentally trying on many levels. There may also be financial stress if a spouse leaves behind credit card debt, outstanding loans or other monetary ...
There may also be financial stress if a spouse leaves behind credit card debt, outstanding loans or other monetary obligations. You may be wondering: Am I responsible for my spouse’s debt after ...