Legal Question in Credit and Debt Law in Texas

debt

we have a prenup 19 years old. we have allways had everything seperate with regards to money. she pays certain bills and so do i. she informed me of 83,000.00 $ of debt today. she has been diagnose with cancer @ 68 years of age. i have no signiture on any of the debt. we live in my house. if she dies will i be responsible for the debt? she has a town house worth approx. 95,000 we have leased out. i will retire soon with my pension and 401k. my house is paid for and so is both cars and the townhouse. she has retirement ira,s im not privy to thier worth. her estate goes to her daughter and mine goes to my daughter.


Asked on 4/20/07, 5:53 pm

2 Answers from Attorneys
TC Langford Langford Law Office

Re: debt

You are right to see that you have a huge problem. From your description, it is unclear if she was an authorized user on your accounts. See a lawyer immediately, if not sooner.

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Answered on 4/20/07, 5:59 pm
Peter Bradie Bradie, Bradie & Bradie

Re: debt

Her estate will be responsible for her debts. I assume that both of you have valid wills that make the assignment of estate. Hopefully the wills call for independent administration, so the estate may be liquidated and the debts paid. IRAs transfer by contract and are outside the estate.

Only if her estate is insufficient to cover her debts may you be liable for necessaries.

We are fairly close by, just North of The Woodlands. Send email if you'd like us to assist.

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Answered on 4/21/07, 2:56 pm


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