Legal Question in Wills and Trusts in Utah

dual ownership with elderly parent in debt

I own a home with my 78 year old mother. She lives in the home and we both consider it finically hers. She still works full time and has an abundance of credit card debt that she pays on monthly. Will I end up paying her debt if she passes before paying them off due to my name on the home loan with her?


Asked on 5/27/04, 3:01 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: dual ownership with elderly parent in debt

You are not responsible for any debt of your mother's unless you are also listed on the credit cards. If she fails to make payment, her creditors could sue her and get judgments which may affect the eventual transfer of the house to her heirs. Your mother should consider creating a trust which places the title of the home into the trust. This will help protect the house from creditors and will also help preserve the trust from future creditors such as Medicaid or SS in the event she suffers a serious illness and does not have funds to pay (including long term health care.) Please call for a free consultation.

Read more
Answered on 5/27/04, 5:34 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Utah