Even if one spouse applies for and assumes a loan or mortgage, both spouses are responsible and liable for paying back the debt. After the death of a spouse, the surviving spouse can be fully liable for all debts assumed by the deceased spouse in a community property state. Final Expense ...
Investors can celebrate 2024 stock market gains, lower inflation, tax-deductible IRA contributions and expanded gift-tax exclusions. Kate StalterNov. 18, 2024 Learn About Social Security Early Younger workers have a lot to gain by understanding how Social Security works. ...
For soon-to-be newlyweds, an experienced marriage attorney can make the process of getting a prenup smooth and pain-free. Here’s how to find one. July 28, 2024 · 8min read Top Get helpful tips and info from our newsletter! Company ...
Common law states: Unless one spouse co-signs for the other, all debt is individually owned under common law. One notable exception is debt incurred to cover family necessities, such as repairing a family home. Estate planning When dealing with community property, estate planning is an especially...
Return of premium: The money you paid for your life insurance will be returned if you outlive your policy. This is only available for term life insurance policies. Spouse life: This add-on puts a small amount of coverage on your spouse. It costs less than starting an individual policy, bu...
Probate is the legal process for distributing the assets and property of someone who died. If the deceased (called the “decedent” in legal settings) left a will, the probate court will validate the document and appoint an executor to distribute the decedent’s property to beneficiaries and pa...
If the primary beneficiary is deceased, refuses the death benefit, or cannot be located, the secondary beneficiary steps in to receive the policy proceeds. The secondary beneficiary acts as a backup plan, ensuring that the death benefit does not go unclaimed or end up in the wrong hands. The...
While tenancy by the entirety protects the property from claims against one spouse, it does not protect it from all claims. If both tenants are responsible for a given debt, the creditor can still make a claim against the property.
to your beneficiaries. This cash benefit—which is not typically taxable—may be used by beneficiaries to settle your healthcare and funeral costs, consumer debt, mortgage debt, and other expenses.2However, beneficiaries are not required to use the insurance proceeds to settle the deceased's ...
Gay Man Seeks Green Card 4 Decades Later; American Spouse Is DeceasedLOS ANGELES » Nearly four decades after the U.S. government toldTony Sullivan he couldn't get a...Vuong, Zen