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want to be single in TN | Do you still owe for a loan if the person that loaned the money is now dead? |
I am in the process of divorce my soon to be ex is trying to include a loan that we got from her sister over 7 years ago into the divorce, also the sister has died. My soon to be ex is still saying that I should pay back the 10,000.00 dollars. The sister does not have children nor is she married. Legally can she include this in the divorce and is it legal for her to try to collect the money for her dead sister? What should I do? |
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JFo
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Consult your lawyer as to your plan of action.
You don't owe her anything for this loan, you BOTH owe the now dead sister, which needs to collect on its own, somehow. If she paid for the whole thing, then you would owe her half. But this is assuming that the paperwork shows it was given to the both of you and not just one of you. If it was given to one, it shouldn't be the other's responsibility. |
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minnie b
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no i don't believe there is a debt owed. to whom would you be paying the money to? if the sister is dead, and there isn't any children or a husband and unless there are some legal documents that have been included in her estate saying the money is needed to pay off something. then i don't think you would owe the money. lastly any money borrowed by a husband and wife is jointly owed. so if you should have to repay, you wife owes her half also. |
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Wayne Z
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Yes, you now owe the estate of your sister-in-law.
What does your lawyer say? |
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wiifan117
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Well, there are a few issues. Since it is a personal loan, I would say - death causes you to not need to pay it back, and without children/spouse, it doesn't seem there is anyone it is owed to.
Now, I understand that if it was a debt of the marriage, yes, it needs to be paid back (if the sister was alive), but it wouldn't be YOUR SOLE responsibility. What would most likely happen, is it would get deducted from the value of marital assets, then when assets are split up, it would get paid out of that.
Another thing, your wife cannot sue you for her sister, if her sister wanted the money, it would be her responsibility to go after you for it (and even though you are both liable, she could choose to only come to you).
Basically, I don't see how your wife would have any legal ramifications in you paying back the whole $10,000. Since the sister is dead, I don't see it as a valid debt. If it is considered valid, I see it being split out of marital assets since it was marital debt...if you guys were married, then it needs to be shared, especially since you said "we got from her sister". |
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emschick638
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sure a collection could be taken on behalf of her.... just because she is dead does not mean that the estate can't persue getting the money from you... but that can not be included in the divorce... it is a seperate legal thing.... |
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Big Daddy
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yes in a matter of speaking - you owe the estate of your sister in law - but your wife is responsible for half sense you were married at the time on the loan - now that would be a matter that you will have to take up with the state - and sense you were married when you sister in law passed and if your wife is claiming to be her heir then what is hers is yours and tell her that if she do claim it she will be the one to pay the taxes on it and seven years on late fees and penalties - so by the time you pay her the 5000 she will owe the state a lot more |
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patrick
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Depends upon the state of your sister-in-laws estate. If the estate has not been settled, then you owe the funds to her estate. If the estate is settled, cleared probate, and the debt not listed, you owe nothing.
Ask your Ex to the name of the executor of the estate, to determine its status. |
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src50
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If it's a legal debt, you would owe it to the estate of the person you borrowed from. Should have been settled when that person's estate was probated. |
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momof3&luvinit
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I would say that you don't owe the money.If you did have to pay it back,who would it go to?if you had to pay half then she would also have to pay half,so where would the money go,with no one to give it to?Sounds like your soon to ex is a little greedy. |
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stevexnelson
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You only owe the money to her estate. If her estate did not ask you to repay this loan, I wouldn't worry about it.
Do not agree to have this debt included in your divorce.
Also, it may be past the statutue of limitations.
Good luck. |
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miss kay kay
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wow that's a tough one. I would say no you don;t owe. |
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