Does surviving spouse inherit credit card debt?

In a nutshell: In most cases, spouses are not responsible for paying off the debt of a deceased person. Instead, the deceased’s estate pays off any debt owed, including credit card debt. However, you may be responsible if you cosigned or were a joint account holder.

Are you responsible for your spouse’s debt in Georgia?

In Georgia, responsibility for the debts assumed by the couple during the marriage may either by assigned by the parties themselves by virtue of a settlement agreement or by court order. Similar to marital assets or marital property, marital debt is debt incurred by one of the spouses during the marriage.

Is a spouse responsible for the other spouse credit card debt?

In most cases you will not be responsible to pay off your deceased spouse’s debts. As a general rule, no one else is obligated to pay the debt of a person who has died. If there is a joint account holder on a credit card, the joint account holder owes the debt.

What happens to credit card debt when you die in Georgia?

Credit card companies cannot legally force family, friends, or heirs to pay back your debt unless you live in a community property state. In that case, your surviving spouse may be liable. However, if the credit card is joint, the other account holder is responsible for it.

Is debt a marital property?

In California, each spouse or partner owns one-half of the community property. And, each spouse or partner is responsible for one-half of the debt. Community property and community debts are usually divided equally. If the debt was incurred during your marriage or domestic partnership, it belongs to you too.

Is Georgia a non spousal State?

No, Georgia is not a community property state. Instead, Georgia divorce laws give both spouses an equitable interest in all property acquired during the couple’s marriage.

Can a surviving spouse be liable for a joint credit card?

And conversely, if a debt is owed jointly, such as a mortgage or joint credit card, the surviving spouse would remain liable for that debt. But, Minnesota state law only singles out two types of debt that a surviving spouse would owe in the case of debt owed only by the individual deceased spouse.

What happens to a deceased spouse’s credit card debt?

Practically speaking, at the time of death, all of the deceased spouse’s individual debts must be paid out of the estate. This would include payment of monies out of joint banking accounts. And conversely, if a debt is owed jointly, such as a mortgage or joint credit card, the surviving spouse would remain liable for that debt.

How is spouse responsible for debt in Georgia?

Spouse Responsibility for Debt in Georgia. Debt is treated differently in community property states and non-community property states. Georgia is an equitable distribution state, meaning that, in terms of responsibility, property and debt are not divided equally between spouses.

Is the surviving spouse liable for a deceased spouse’s debt?

In general, the answer is no, a surviving spouse is not obligated to pay the individual debts of their deceased spouse; but like most areas of the law, there are nuances requiring a closer look. The deceased spouse is liable for his or her own debts, even in death.