You could be responsible for debt your spouse takes if you put your name on a loan's promissory note or if you are added
as a joint account holder of a credit card.
It is best to list all creditors where your name is
listed as a joint account holder and once the divorce is final be sure to keep tabs on the open accounts that may still be connected to your name.
My father's current MIS in post office is going to expire in next few months, so if we do the next MIS / SCSS, with my
wife as joint account holder, all the funds will be inherited by my wife.
As a joint account holder, you'll be just as responsible for making payments on the card.
I was also unable to add
her as a joint account holder on any of my accounts (Etrade, Betterment, Capital One 360) so the best I could do was add her as my beneficiary.
Ask a parent or spouse to take the extra step — and extra risk — of adding
you as a joint account holder on a credit card.
As a joint account holder, you share the legal responsibility of making payments on the card account and can't be removed from the account very easily — a risk for the original account holder.
That chosen person might not want to add
you as a joint account holder, but instead as an authorized user.
As a joint account holder, you can watch their savings grow when you use your own online or mobile banking login.
Keeping Score — If your kids are trustworthy, consider adding
them as a joint account holder to your credit card account.