[Upstatemom]

My Mom recently passed away and has credit card debt. The house was left to me in a trust and my name is on her bank account as a joint holder. What happens to all the debt that she has? Am I liable for it and will they freeze the bank account for the money?

[ScottGem]

Depending on the structure of the trust the house goes to you outside the estate. Same thing with any accounts that you are listed on as joint ownership. If there is nothing else in the estate, just return any bills to the creditors unopened marked deceased return to sender.

[deville p]

Depending on the structure of the trust the house goes to you outside the estate. Same thing with any accounts that you are listed on as joint ownership. If there is nothing else in the estate, just return any bills to the creditors unopened marked deceased return to sender.

You need to remove the money from the joint account also.

[AK lawyer]

You need to remove the money from the joint account also.

How do you figure? If the account is a survivorship account, it now belongs to OP, not the mom's estate.

[ScottGem]

You need to remove the money from the joint account also.

When are you going to learn not to answer questions you know nothing about?

There is no necessity to close the accounts. All that's needed is to show a death certificate to remove the mother's name.

[deville p]

When are you going to learn not to answer questions you know nothing about?

there is no necessity to close the accounts. All that's needed is to show a death certificate to remove the mother's name.

Debt does not go away when you die.

If you die and you have bills and money, the money can be taken by a court order. In this case she has a joint account so all of the money in that account can be removed to pay bills. It's a lengthy process and does happen.

I would like to know what world some of y'all live in! Give a full answer next time!

Call the credit card company! Please remove the money so you do not lose it because of bad advice from Scott!

[ScottGem]

Debt does not go away when you die.

This is the only accurate thing you are saying. When one dies, their estate is responsible for their debts up to the value of the estate.

If you die and you have bills and money, the money can be taken by a court order. In this case she has a joint account so all of the money in that account can be removed to pay bills. Its a lengthy process and does happen.

What is a Joint Bank Account?
In general, a joint bank account is a bank account belonging fully and equally to two people. Each person can legally deposit or withdraw any amount of money from the account without need for the other's consent. Both names on the bank account "own" the entire account. Most joint bank accounts have a right of survivorship, meaning that when one party dies, the contents of the account automatically are fully owned by the other party.

http://www.legalmatch.com/law-librar...-accounts.html

Note it says "fully owned". It is a matter of law that any asset that is owned with right of survivorship passes to the survivor OUTSIDE the estate of the deceased. A creditor can only go after assets that are part of the estate.

at the death of one of the joint tenants, ownership of the remaining property passes to the surviving tenants, or successors, who assert the right of survivorship. This is a powerful legal right because it takes precedence over other claims upon the property. Originally a right at Common Law, it is recognized by statute in all states.
http://legal-dictionary.thefreedicti...f+Survivorship

Call the credit card company! Please remove the money so you do not lose it because of bad advice from Scott!

If you have any proof that my advice was bad, then produce it. I've just provided proof that my advice was accurate and yours is the bad advice. You have been warned before about the quality of your advice. Your previous account was placed on moderation because of consistent bad advice and your are heading in the same direction with this one.