Estate Lawyer Hildale Utah

estate planning attorney Hildale Utah

What happens to my parents’ debt after they die?

When a married couple dies with debt, the rules can be complex about who is responsible for paying it back. In a friendly tone: When a married couple dies with debt, the rules can be complex about who is responsible for paying it back.

Estate

The reason for this is that the debt belongs to both spouses equally, but after death, one spouse may have no assets available to repay the amount owed, which leaves only the estate of the other spouse to pay off their half of the debt.

Two ways that this can happen

1. In community property states, all debts incurred during marriage are considered joint debts and legally belong to both spouses.

2. Even in non-community property states, if there is no prenuptial agreement in place then the law will consider both spouses equally liable for any debts acquired during the marriage.

Debt Division

The issue of debt division usually only becomes a problem when one spouse dies with significant debt while leaving behind little or nothing in assets to pay off their share of the debt. This may cause issues if there are children from another relationship who are entitled to part of their deceased parent’s estate but also have a claim on their parent’s portion of the marital debt.

What happens to your parent’s debt after they pass away

When a loved one passes away, the last thing you might be thinking about is their debt. However, it’s important to take a look at what happens to their debt when they die. If your parent(s) have part of their estate used to pay down their debts, this may eliminate the need for you to pay them off.

Asking an attorney

It’s always a good idea to ask an attorney about how your situation will impact your financial future.

If you have questions, you can get a free consultation with the Best Estate Planning Lawyers.

Parklin Law – Estate Planning Lawyer
5772 W 8030 S, # N206
West Jordan UT 84081
(801) 618-0699
https://www.parklinlaw.com/
https://parkin-law.business.site/

Hildale, Utah

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Hildale, Utah
Approaching Hildale in the evening from the northwest on Utah State Route 59

Approaching Hildale in the evening from the northwest on Utah State Route 59
Location in Washington County and the U.S. state of Utah

Location in Washington County and the U.S. state of Utah
Coordinates: 37°0′10″N 112°59′14″WCoordinates37°0′10″N 112°59′14″W
Country United States
State Utah
County Washington
Incorporated 1962
Became a city March 20, 1990
Government

 
 • Mayor Donia Jessop
Area

 
 • Total 5.60 sq mi (14.51 km2)
 • Land 5.60 sq mi (14.51 km2)
 • Water 0.00 sq mi (0.00 km2)
Elevation

5,043 ft (1,537 m)
Population

 (2020)
 • Total 1,127
 • Density 517.14/sq mi (199.65/km2)
Time zone UTC-7 (Mountain (MST))
 • Summer (DST) UTC-6 (MDT)
ZIP code
84784
Area code 435
FIPS code 49-35300[2]
GNIS feature ID 1450387[1]
Website Official website

Hildale is a city in Washington CountyUtah, United States. The population was 1,127 at the 2020 census.[3]

Hildale is located on the border of Utah and Arizona.

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