Legal Question in Wills and Trusts in New York
Marital Debt
If a married couple keep seperate bank accounts and seperate credit card accounts and the only joint account is the mortage. When one of them dies is the other one responsible for any debts such as credit card, car loan,
etc.?
2 Answers from Attorneys
Re: Marital Debt
As long as the other spouse has not signed the application or assumed responsibility or used the other's credit, there should be no responsibility. However, in the event of failure to pay, a judgment obtained might attach to the deceased's interest in the home, which could cause responsibility. Consider placing the home in a trust registration which could insulate the home from any creditor claims, other than the mortgage, real estate taxes and the like.
Re: Marital Debt
Genrally, one person is not responsible for the payment of the debts of another. This is true in marriage.
An exception occurs when, as a pattern, the debt incurred by one party is designed to enrich the other party. Then the other party can be held responsible.
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