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I have a credit card in my name only, if I should die does…

Customer Question
I have a credit...

I have a credit card in my name only, if I should die does my wife assume that debt

Lawyer's Assistant: What state is this in? And when did the issue begin?

NJ, it hasn't happened yet

Lawyer's Assistant: Has anything been filed or reported?

No

Submitted: 6 months ago.Category: Legal
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12/6/2017
Lawyer: Richard, Attorney replied 6 months ago
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,893
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Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

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Lawyer: Richard, Attorney replied 6 months ago

Good morning. She does not assume this debt. New Jersey is not a community property state. If spouses never resided in a community property state, and only one spouse signed the loan contract (such as a credit card agreement), then the signatory-spouse is the only party liable for the debt. The other spouse, being the non-signatory spouse, does not share in such liabilities of the signing spouse.

So, your wife has no responsibility for such debt. But, to the extent your estate has any probate assets, those would be subject to the creditor claims. But, that only includes probate assets. Assets that are not probate assets are: i) joint accounts which vest automatically in the surviving joint owner; ii) real property held as joint tenants with right of survivorship or as tenancy by the entirety, which property vests automatically in the surviving owner; and iii) assets with named beneficiaries, such as retirement plans and life insurance policies. None of these are probate assets and thus are not subject to the claims of the creditors of the deceased spouse.

Thank you so much for allowing me to help you with your question. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (i.e., 4 or 5 stars)(hopefully Excellent/5 stars!). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

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Lawyer: Richard, Attorney replied 6 months ago

Just following up. My screen indicates that you have not reviewed my response. Please let me know if you did not receive it so I can re-send it if necessary. Thank you! Richard

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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