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Question:
My husband passed away, and I found out he has a lot of debt piled up. Am I responsible for the debt?
Answer:
As an experienced Delaware County Estate Planning Attorney, I often handle these types of matters. Generally, the estate of the deceased is responsible for paying any debts that the decedent owes. The executor of the estate is the person who is responsible for settling a decedent’s affairs, which includes the payment of outstanding debts. In the majority of states, you will not be responsible for your late husband’s debts, however, if you live in a community property state or co-signed the obligation, you may be legally responsible. New York is not a community property state, but if you lived outside of New York, you should speak to an attorney in your specific state.
Do you have to pay off the debts of your deceased spouse? If so, contact the experienced New York Estate Planning Attorney Steven Chisholm.
This legal question was answered by Steven Chisholm, an experienced New York Estate Planning Attorney. This does not consent an attorney client relationship.