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If you owe money and the spouse of that person said dont worry about it do still owe the money?
If the debt is in writing and you only have a verbal clearance of it, then I would suggest that the debt is still owed. The spouse might not have the authority to write off the debt. You need to get the spouse or the person owed to sign a document to the effect that the debt is no longer outstanding.
Can a person be held responsible for a debt owned by a deceased spouse in Virginia?
It depends on the type of debt. The estate is going to be responsible for the debt in most cases. Which means it has to be paid before the spouse can take anything from the estate.
Who is responsible for a leased vehicle when the person dies if there was no cosigner but there is a surviving spouse?
If the married couple lived in a community property state at the time of the spouse's death, the surviving spouse may be responsible for the lease debt even if she was not an account holder. If the couple did not live in a community property state the creditor will be required to file a claim against the estate of the deceased to try to recover the debt.
What if a person dies in Feb 08 owing the IRS taxes for 07 but was separated from his spouse by the end of the fiscal year 07 - is the spouse liable for the IRS debt?
If the spouse inherited the estate, the spouse will pay the IRS debt. Since the two were still married, the taxes must be paid by the remaining spouse.If they were separated at the end of 2007 I assume that they did not file a joint return for the 2007 taxes. If this is the case, the husband's estate must pay the taxes. If the estate cannot pay the taxes in full, then the spouse will not be held liable for anything that is still owed. A distinction must be made between the spouse being liable and the estate being liable.The only way that the spouse is fully liable is if the return was a joint return.
Will your spouse have to pay for your debt if you stop paying on it?
If your spouse co-signed the debt, they will have to pay your debt. In most cases, the answer will be no, it is your debt and you are responsible.
If a person dies with no estate in California can a credito collect from the survaiving spouse?
A creditor can collect a debt from the surviving spouse under certain circumstances in a community property state. Usually, the debt has to have been accrued during the marriage.
Is your spouse's info needed to file for bankruptcy if you are separated?
Not if you are TRULY separated and filing only for yourself. Even at that - the bankruptcy referee would probably want to look carefully at her debt qcquisition while the marriage was functional, just to make sure that the estranged wife did not materially add to the bankrupt debt.
In the state of Georgia if a spouse receives life insurance benefits is the surviving spouse responsible for the deceased spouse debt if surviving spouse's name is not on any of the debt owed?
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.
Does a spouse have to repay student loans after the person with the loans dies?
The student loan should be paid out of the estate of the deceased before it is distributed to the spouse. If there isn't enough to cover the debt, the spouse should not be held responsible for the balance, unless both people signed the loan. Many people misunderstand who pays the outstanding debt. The surviving spouse does not pay the debt, but it comes out of the estate before distribution.
Is the person who rewarded a life estate resposible for decedents debt?
That will depend on the relationship. If it is a spouse, there is likely to be a legal responsibility.
Is the surviving spouse liable for a deceased spouse's debt in Tennessee?
The estate is responsible for the deceased spouse's debts. But given that the spouse typically inherits the estate, and often agreements are required to include the spouse, there is a possibility, depending upon the type of debt and the instruments they were created under. I would consult a probate attorney. * A spouse is not responsible for the debts of a deceased spouse unless the debts were jointly incurred during the marriage or in some instances the married couple resided in a community property state at the time of death.
In Michigan is your spouse responsible for debt incurred in your name?
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.
