QUESTION
Is the spouse liable for a car loan if her husband passes away?
Asked on Nov 14th, 2014 on Estate Planning - Ohio
More details to this question:
The car/loan was only in his name and their only assets were home and small savings which are in a trust. Once the bank repossesses the car, will they ask the spouse to pay?
1 ANSWER
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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No, people can't inherit liabilities. The only way you can become liable on a car loan is to sign for it.
Answered on Nov 17th, 2014 at 2:26 PM