Legal Question in Family Law in New Jersey
Financial Obligations
My husbsnd has cancer and did not carry any type of life insurance, so there is none. He is self-employed
and I want to know if I'm responsible for his debts after his death. I have not signed any mortages or credit cards with him. He is incorporated and my name does not appear anywhere in his holdings. I own my own townhouse and the deed is in my name only, I don't want to loose my home. I 'm very nervous about this situation, as I'm not sure what legal things I need to do to protect my own assets. Please advise me on what I need to do
1 Answer from Attorneys
Re: Financial Obligations
hi - you should be okay if the deed is in your name only; and you aren't on any of the corporate books as an officer. your husband's will should provide for payment of "just debts" etc., out of any assets of his estate. if his estate has no assets, perhaps his estate will have to file bankruptcy to wipe out the debts. if you have any other questions, feel free to call me at 609 263-0089. good luck to you both.
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