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skybabe | If I marry someone and I owe alot of money for PAST bill's will the other person responsible for my debt too? |
my mom's ex health aide(my mom has passed) is going to marry my dad and she owe's alot of money and has alot to gain from him too ,he's thinking about a pre-nup to protect his home an belonging's (DONT WANT NO ANNA NICOLE HERE)She has bad credit and he has good credit!!!! |
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Ringading
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If she's marrying him for love and not marrying his wallet, no way she would put up a hassle signing a pre-nup which can be drafted simple or complicated depending on how many assets he owns. She would understand he needs to protect his estate that he's bequeathing to his family (which came first long before she entered the picture) If she's an honorable woman she would understand completely and not allow petty feelings of jealousy undermine her wedding vows. Family comes first after all!
But then if she's buried into a financial mess, what's to stop it from getting worse for her? Has she fallen on hard times or is she completely irresponsible? Whatever caused this, she hasn't wrapped up loose ends yet and she needs to take care of this before she begins life anew, otherwise she's bringing her mess to your father's doorstep.
It'll drag him into it emotionally or financially, one way or the other.
Bad credit aside, if your father is a considerably older gentleman who was collecting SS benefits from your mother, he will lose them if he marries this new lady. If they begin to file taxes jointly as a married couple he'll have to collect on her SS benefits when her time comes and if she earns considerably less than what your mother made, it is a financial loss for your father. This is why more older couples these days opt for just living together and not marrying one another (more investments to lose, unlike young couples who have no assets). And I believe they just passed a law saying SS benefits are no longer protected from creditors but you can look that up.
Just tell your father to file his taxes separately, not jointly, and above all, DO NOT SHARE ANY CREDIT with his new lady and they should be fine. Consult a legitimate credit counselor. |
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curmudgeon
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bills before they were married are just hers. |
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Steve
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he needs a pre-nup...but her debts can't affect him unless that start having joint assets. Make sure that her name doesn't become joint on accounts or real estate and there will be nothing to worry about. |
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lizzgeorge
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If you marry in most states, all previous debts and assets are legally owned by each parter 50/50. After the marriage, any new debts, assets, or income (including inheritances) is also legally half the wife's and half the husband's.
If you divorce without a pre-nup a court will divide all debts and assets and income "equitably" based on the number of years you spent together and other factors. Usually this means 50/50 or close to it.
This is true UNLESS you live in one of 7 community property states (TX, CA...don't know the rest). In those states previously incurred debts and assets are owned legally by the original person who incurred them (unless you purposefully co-mingle them after marriage). After marriage everything incurred by either party is owned 50/50 except inheritances, which are owned by soley by the inheritant.
So if you divorce in one of those states, each spouse gets 50% of what was incurred during the marriage (debt and assets), but each gets to keep the debt/assets they came in with plus any inheritances. |
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budde ugly
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Only if he's a damned fool. |
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gimpy@pacbell.net
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YES!!! DONT DO IT!!!! TRUST ME!!!!! |
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Jon
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everything that was before the marriage is heres as stated in the law. Consult an attorney to make sure the law is valid in your state. A pre-nup is always a good way to ensure to protect your assets |
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JD
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that's not his responsibility. that would bring your life and your dad down. what would happen if she ran away. |
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david_r746_6
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i think that the other person will be responsible just if you both sign the marriage papers
now please help me with my question http://answers.yahoo.com/question/index;_ylt=AjLayUoaylOZ.SRH2pA5gybsy6IX?qid=20070522114820AAm2sv0 |
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jessie
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He will inherit any debt she owes - so tell him to be careful and not be surprised if any credit holders hold him liable for monies owed. |
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Who knows
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Yes. when you enter in a marriage contract the other persons debt becomes yours. My frind got divorced and her husband had purchased a truck when they were married he stoped paying it and got repo before they where separated. When the divorce came she owed half his debt (5,000) she's still paying for it. |
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yeah_ok
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NO! If you have bad credit BEFORE you were married then no it does not affect your future husband, yet if bad credit accumulated on your behalf while married, it does at that point you are one and legally finances are shared. Also note that if you have bad credit that, it will be extremely hard for you two to attain a joint bank account. Good luck! |
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Tonx
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No not really but if he really cares about her then he will help.(when they get married she can switch to his credit i think!) |
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knighttwin2005
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yes if you marry you become one and al bills are on both. |
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FaZizzle
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Yup.
Your debt becomes the debt of you two together.
A pre-nup really is a bad idea unless he has a LOT of money. HIS credit won't be affected, but where's the teamwork? Why even get married if you aren't going to work as a team, as a couple? |
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