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Reply to "When a husband dies, is his wife responsible for his credit card debt?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]TOD/POD, Trust. Leave nothing in an Estate. [/quote] When my father passed we had to pay his debts before dispersing the $$ from his trusts. Can you imagine how great seniors would have it if no one ever had to pay in the end. Just ring up massve cc debt. I guess no one would ever issue a senior a card in that case,[/quote] Poorly written trust[/quote] Um...no it wasn't. Revocable trusts do not provide creditor protection to the person that created the trust. See D.C Code Sec. 19-1305.05 and all the other states with similar provisions, I just know DC code section off the top of my head. A trust can provide creditor protection for successor beneficiaries of trust.[/quote] Um… no. Proper estate planning avoids debt liability. Shouldn’t have been a revocable trust. [/quote]
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