I recently discovered my fiance (who is 64), has large credit card debts--approx $40,000. to $50,000. If I marry him, am I automatically resonsible for these debts also?
2 Answer from Attorneys
Not per se... but, for instance, if he defaults, his creditors might garnish your jointly held checking account or other assets.
When you marry someone, their prior debts are non-marital should you divorce, but while you're married, it will certainly affect your finances and other aspects of your marriage. Considering his age, it's obvious his debts will prevent his retirement, or at least a comfortable retirement. Before you marry this guy, go talk to a financial advisor, then see a family law attorney about a prenup and a new will.