Legal Question in Wills and Trusts in Indiana
Credit card debt and death
My father in law has cancer and has been given 1-2 months. He has credit cards in his name that his wife is not a co-signer on. Will she be obligated to pay these credit cards? Will his life insurance 401k or pension pay be attached? Can they put a judgement against their joint home?
1 Answer from Attorneys
Re: Credit card debt and death
If your father-in-law is the only signer on the credit cards, and the card issuers don't have any collateralization to the life insurance or other assets (very unlikely) then the only remedy for the creditors would be to open an estate and see if there are any net assets. The life insurance, pension and 401K should all have named beneficiaries, so those assets would not be in the estate. A house owned with right of survivership would also not be in the estate. So, the creditors will have to ferget forever about getting paid. In any every, your father's wife would have no enforceable obligation to pay them.
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