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What happens to jointly held property upon death

My husband passed away one year ago. He had credit card debts. Now the bank is coming after me for his outstanding amount. We were married and held the matrimonial home in joint names. Can they take my house?

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One Response to “What happens to jointly held property upon death”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

As long as the credit cards were not jointly held and you did not have or use the credit cards and your husband’s portion of the equity was willed to you and not the estate, then you shouldn’t have any difficulties. However, if you signed on these cards or used these cards then they are able to look to you for collection. To confuse things we also have to consider what would happen if you deceased husband’s equity was left to his estate (i.e. it was not willed to you). If the property is left to the estate, the estate is responsible to ensure all of those debts are paid out of any money / property within that estate. As this can be a confusing issue, I suggest you contact a trustee in your area and explain these situations in greater detail.