Legal Question in Credit and Debt Law in Illinois
I have learned that my husband purchased two cars for his daughters WITHOUT MY KNOWLDGE and is making monthly payments on them. Should he die, would I be responsible for paying off these cars?
2 Answers from Attorneys
Since Illinois is not a community property state and (presumably) you did not co-sign on the car loan agreements you would not be liable for the car payments if he died. Your husband's assets would be abated under the Illinois Probate Code to repay the debt. If there is any unpaid amount on the car after your husband's assets have been abated then what would happen would depend on several factors.
Whew! When I first read your question, I read, "Should he die?" But fortunately, the question continued, and you used a comma instead of a semicolon. You would not be personally liable for the debt assuming you did not sign the loan documents. As a practical matter, if the payments were not made, the lender would probably repossess the vehicles and possibly sue the estate for any shortfall. With proper estate planning (e.g., putting as much of your assets as possible in joint tenancy), this should not be a serious problem. It would be in the daughters' best interests to continue making the payments, if they would want to keep the cars.
And just in case, no, I firmly believe he should not be put to death because of this.