Legal Question in Credit and Debt Law in New Jersey
responsibity
If my name is on my mother's checking account, does that make me responsible for all her debts when she dies? Very small account and would barely cover bills...does the balance of those debts fall to my personal funds?
3 Answers from Attorneys
Re: responsibity
Most likely they can get to whatever is in the checking account and whatever else you have jointly with your mom. Other than that, they are not likely to go after your personal assets if you had no part in the debt.
Re: responsibity
If the money in the account came from your mother, like her social security checks, as opposed to from you, then the funds remaining in the account are liable to be used to pay the debts. The joint names do not make you liable for her debts.
Re: responsibity
These are fact sensitive matters, but generally, I believe they can get at your mother's assets only, and possibly 1/2 the value of joint assets. Only a full consult or hiring an attorney can give you definite answers, or should I say definite opinions.
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