Expert: Jason Barnette, Esq. - 9/9/2009

Question
I am seriously ill. My husband and I own a home together. We have paid off most of his credit card debt, but I still owe about $12000. I also have student loans. I am concerned about leaving my husband with a large debt if I pass away. Will the credit cards which are in my name only become his responsibility? Other than our house, which is now worth less than what we owe, we have no assets in common. I have about $70,000 in life insurance, but I don't want him to have to use that money, as he will need it to make up for my income. How can I insure that he is not saddled with my debts?

Answer
Adrianna:

The obligation for your credit card debt and student loans will not be transferred to your husband.  Those creditors may choose to bring forth a claim against your estate (if you have a will which must be entered into probate) but, insofar as you have no assets they would take nothing.  Life insurance proceeds are generally not considered a post-mortum devise subject to attack.

Jason Barnette
Barnette Law Offices, LLC
1800 Hayes Street; Suite 122
Nashville, TN 37203
615-585-2245
http://www.barnettelawoffices.com