Q: My wife's mother is 82, she's has 60K debt in credit cards, owns nothing whatsoever. is my wife responsible upon dying?
She own's no real estate, no financial holdings, no car - nothing! nothing in her bank account and nothing in her will. Rents a small apartment. She's on Medicare and Medicaid.
Can the card holders go after my wife to pay here debt?
A: I am licensed only in Missouri and Illinois. Based upon the law in those States, I would say "No." I am not licensed in Texas but, UNLESS your wife is a co-signer, co-apllicant, or guarantor for any of your mother-in-laws debt, I cannot see how your wife would be responsible for her mother's debt. Since I am not licensed in Texas, I cannot make that determination with any authority and I strongly suggest that you speak to a a Texas-licensed attorney.
We do not inherit our parent's debts.
If the parent has assets and the estate is administered, creditors can make claims against the estate. There is a statutory pecking order for payment--and the government comes first!
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