Debt And Marriage: When Do I Owe My Spouse’s Debts? Whether you and your spouse are responsible for paying each other’s debts will depend primarily on where you live. If your state follows common law property rules, spouses are only liable for their own debts, with a few exceptions. For instance, both spouses must pay… Continue reading Debt And Marriage: When Do I Owe My Spouse’s Debts?
Creditor Claims Against Retirement Assets Creditor claims is defined as written claim filed in federal bankruptcy court by a person or entity owed money by a debtor who has filed for bankruptcy. A written claim filed in probate court by a person or entity owed money by a person who has died. State law sets… Continue reading Creditor Claims Against Retirement Assets
Beneficiary Designation And Estate Planning A beneficiary designation is the act of naming the person who will inherit an asset in the event of the account owner’s passing. Some common examples include life insurance policies and retirement accounts. When the account owner passes away, their assets are then transferred to the beneficiary that they designated.… Continue reading Beneficiary Designation And Estate Planning
