Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.
In almost every case, you will not be held responsible for debt your spouse has incurred before your marriage. The only exception to this rule is if you become a joint account holder after marriage. If you take this step, you will accept ownership of the debt and be held accountable for its repayment.
Accepting a POA doesn't make you liable for your relative's debts.
Individual Liability: Debts are usually tied to the person who incurred them. If one sibling takes out a loan or credit card in their name, the other siblings are not legally obligated to pay that debt. Co-Signing: If a sibling co-signs a loan or credit agreement, they become legally responsible for that debt.
Generally speaking, debt can't usually be transferred to another person. If you're not named on the credit agreement and you didn't sign it, or put your name down as a guarantor, then in most cases, the debt can't be transferred to you.
Elder Law Guides
Download our in-depth guides on elder law topics. No, sisters are not legally responsible for one another. So, assuming that they were not already living together, one sister does not have to take in the other sister when she is discharged from the hospital.
The executor — the person named in a will to carry out what it says after the person's death — is responsible for settling the deceased person's debts. If there's no will, the court may appoint an administrator, personal representative, or universal successor and give them the power to settle the affairs of the estate.
An agent can only transfer money to themselves if the POA document explicitly allows it. Self-transfers without explicit authorization are generally considered a breach of fiduciary duty and can lead to legal consequences.
Speak to Creditors
Once you decide to take on the other person's debt, you should call the creditor directly and express your wishes to be added to their account. In most cases, you can simply say that you want to be added to the account as a guarantor.
Most states use common law (also known as equitable distribution), which dictates that married couples don't automatically share personal property legally. In other words, you aren't responsible for your spouse's debt unless you took it out together as a joint account, or you cosigned on it.
Financial infidelity is when couples with combined finances lie to each other about money. Examples of financial infidelity can include hiding existing debts, excessive expenditures without notifying the other partner, and lying about the use of money.
If you are struggling with debt and debt collectors, Farmer & Morris Law, PLLC can help. As soon as you use the 11-word phrase “please cease and desist all calls and contact with me immediately” to stop the harassment, call us for a free consultation about what you can do to resolve your debt problems for good.
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.
In the golden rule, a budget deficit and an increase in public debt is allowed if and only if the public debt is used to finance public investment.
If you contact the bank before consulting an attorney, you risk account freezes, which could severely delay auto-payments and direct deposits and most importantly mortgage payments. You should call Social Security right away to tell them about the death of your loved one.
Yes—but only if you co-signed on the debt or are a co-owner based on California's community property laws, as detailed above. Another example: An adult child can inherit debt if their name is on a loan or credit cards that their parent had when they died.
Medical debt and hospital bills don't simply go away after death. In most states, they take priority in the probate process, meaning they usually are paid first, by selling off assets if need be.
For example, for power of attorney to be durable in California, it must contain specific language to that effect. Power of attorney documents must also either be notarized or signed by two witnesses. These errors and others can render the power of attorney void.
Can a Nursing Home Override a Power Of Attorney? Generally, a nursing home cannot override the decisions made by an agent with power of attorney. The purpose of a POA is to give a trusted individual legal authority to act on the principal's behalf when they can no longer make decisions.
In California, a person can appoint anyone as their agent through a POA, including a spouse, friend, or attorney. However, issues can arise when the decisions made by the POA conflict with the wishes of the spouse.
In particular, firstborn children are usually characterized as responsible, Type A personalities who are often drawn to leadership-type roles in the family and in their lives. Being the oldest sibling may have its perks, but it also can feel like a burden at times.
In the United States, each state has its laws requiring children to take care of their elderly parents. In 30 states, an adult is liable for their old parents' care after they are unable to care for themselves. However, the statute establishing this filial obligation has never been implemented in 11 of these states.