Question

Hi Jon,

My ex-partner recently passed away, and we had a joint loan he was paying, and he also had a few other business related loans. I am not the one handling his affairs or funeral, his family is taking care of all of those matters. My concern is am I liable for any of his debts? He owed quite a bit of money due to his business.

Any advice is helpful.

Helen

Answer

Helen,

It is always sad when someone we know dies, and it can get complicated depending on how their final wishes were stated, such as in a Will, life insurance, etc.

From what you have stated, the only account or loan you would owe would be the loan in joint, or both your names. Even though your ex may have been making the payments, you both are responsible for the loan.

Any loans, in the business name, your ex’s name, or that he may have guaranteed, you are not responsible for. His creditors may seek out to your ex’s estate, if he has one, to be paid, but those loans are not your responsibility.

His family needs to contact the creditors in question and make them aware of his death. You may wish to contact the creditor for the jointly held loan to inquire about the details of the loan, the balance, monthly payments, etc.

Regards,

Jon

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