Husband's & Wife Liability for each other

[juditeti]

My husband and I have been married for 13 years and he has 2 children from a prior marriage.

I just found out that he put a loan in his name for his daughter so she could make a large purchase. The loan is about $8,000.00. She is the co-signer. According to my husband she is paying the loan. She couldn't get the loan in her name alone because of credit issues.

Should my husband pass away, am I liable for this loan?

Thank you,

Judi Teti

 

[seniorjudge]

You would be liable for the loan if he left assets to you.

His debts would have to be paid out of the assets he left.

 

[seniorjudge]

The answer is, of course, for hubby to buy lots of life insurance.