Am I responsible for the debts of my deceased spouse?
Full Question:
Answer:
Typically, debts that were solely in the name of your spouse become debts owed by his estate. The creditors would be able to file claims against the estate in probate court to receive payment. If there is no estate, most creditors will close the account upon the receipt of a death certificate.
Once a death certificate is received by the creditor along with a letter explaining that there is no estate, creditors usually forgive the debt, close the account and write it off. In the case of a persistent creditor, an estate may need to be filed even if there is no estate in order to satisfy the creditor that the debtor has died and there is no estate.
With a properly named beneficiary, the death proceeds of an annuity are outside of the estate and transfer directly to the heirs avoiding probate.
Therefore if there were no other assets such as a car, house, property, stocks, etc. then there may be no need for a full probate proceeding. If the total gross estate has a value of $15,000 or less, the probate court may order that the property be turned over to the surviving spouse.