Sentences with phrase «live in a community property state»

In addition, your spouse may be liable for your debt if you lived in a community property state.

If you don't live in a community property state and no one cosigned the loan, the lender will attempt to collect from your estate but has no recourse if there's not enough money.

A spouse could also be held responsible for the debt if you lived in a community property state.

You live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin)

What if «John and Jane» from the example above lived in a community property state?

It depends on whether there is a joint cardholder if the deceased person was married, and if the person lived in a community property state.

If you live in a community property state: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin the surviving spouse is responsible for debts incurred by the account holder during his or her marriage — even if the surviving spouse did not cosign.

Remember, your beneficiary can be anyone you want as long as you don't live in a community property state and have a spouse.

A spouse could also be held responsible for the debt if you lived in a community property state.

If you didn't have a joint cardholder and didn't live in a community property state, available money will be collected from your estate but the credit card issuer would have to walk away from any debt in excess of that.

Whether or not debt can be transferred to a spouse depends on whether or not the deceased person lives in a community property state — including Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Alaska.

John and: Jane have the same amount of income but live in a community property state.

When you live in a community property state and file separate returns, you each must report 50 percent of your spouse's income and half of income generated by community assets, plus all of your separate income.

However, married taxpayers who live in community property states and filed to file joint tax returns may still qualify.

If you live in a community property state, and acquired student loan debt through marriage, you could be liable to pay off your spouse's debt after his / her passing.

When couples in a same - sex marriage live in a community property state, they must follow community property laws on their federal tax return, even though the federal government doesn't recognize their marriage.

-- Most assets that were obtained by one spouse after the marriage while living in a community property state.

If you are applying for individual credit, you must complete the Applicant section about yourself and the Co-Applicant section about your spouse if (1) you live in a community property state (AZ, CA, ID, LA, NM, NV, TX, WA, WI) or (2) your spouse will use the account.

We live in a community property state, so we didn't get the whole amount back.

However, if you live in a community property state, you must report half of all community income and all of your separate income on your return.

However, if you live in a community property state (California, Arizona, Idaho, Nevada, Louisiana, New Mexico, Washington, Texas or Wisconsin), your spouse and you may be responsible for debts incurred during the marriage, and the individual debts of your spouse may appear on your credit report as well.

This last rule, of course, does not apply if your husband is going to use your account or be responsible for paying your debts on the account, or if you live in a community property state.

Depending on whether or not you live in a community property state will determine how you divide up your assets when filing bankruptcy separately from your spouse, but when filing bankruptcy jointly with your spouse, there is really no need to divide up your assets.

The one thing to keep in mind is if you live in a community property state you might run into some issues, so make sure you know your rights and obligations.

When you are filing bankruptcy, it is important to know whether or not you live in a community property state.

IMO, this is especially true if the wife needs the car and they live in a community property state.

Another factor might be if the mortgage was taken out after you got married and you lived in a community property state.

Living in a community property state can affect how wills are recognized.

If you live in a community property state, the debt may be divided 50 - 50.

This is the case if you take out a student loan while you're married and live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin).

Sally Herigstad: Foreclosure's impact on married couples — When a mortgage is in one spouse's name, if you choose to foreclosure, the impact to the other spouse's credit can depend on whether you live in a community property state... (See Credit and foreclosure)

If you live in a community property state, this may be more complicated.

If she lives in a community property state, then there will be specific rules about whether or not some of the life insurance proceeds would go to her husband.

You may be married but trying to file separately, yet unaware that you live in a community property state where it's not allowed.

Remember, your beneficiary can be anyone you want as long as you don't live in a community property state and have a spouse.

If you live in a community property state, you both may be responsible for debts incurred on individual accounts during your marriage.

Know if you live in a community property state.

For the most part, if there were zero cosigners attached to a loan, or a widow or widower of a spouse in debt didn't live in a community property state, there's not much creditors can do to reclaim unpaid debt if there's no money left in an estate.

The good news is family members aren't responsible for any debt left behind after death, unless they've co-signed on that debt or live in a community property state where spouses are responsible for debt incurred during the marriage.

Loved ones don't «inherit» debt, unless they've co-signed on a dotted line or live in a community property state (in which case, a spouse is on the hook for debt incurred during the marriage).

But if you live in a community property state, both spouses have an equal stake in earnings and property during the marriage — including life insurance.

If you acquired student loan debt while married, upon your death your spouse may be responsible to pay your student loans in full if you live in a community property state.

Bedrock Divorce Advisors: Do You Live in a Community Property State or Equitable Distribution State?

Bedrock Divorce Advisors: Do You Live in a Community Property State or an Equitable Distribution State?

If you live in a community property state — Arizona, California, Louisiana, New Mexico, Nevada, Idaho, Texas, Washington or Wisconsin — assets and debts you acquire during your marriage belong equally to both spouses, except in certain narrow circumstances, such as assets acquired by inheritance or gift that you kept separate from your marital assets.

Keep in mind that if you live in a community property state, you'll want to think about whether you intend the separation to change your property ownership.

You live in a community property state.

Not exact matches

Law abiding members of the public at Naka general area, and other communities in Gwer West LGA and indeed the entire good people of Benue State are hereby reassured of the professional resolve of the Nigerian Army under the leadership of Lieutenant General Tukur Yusuf Buratai to protect lives and properties of all Nigerians.

I stated then in writing amongst other things that: ``... I am sorry if any person gets offended by my insistence on the protection of public property and putting Ghana First because I was molded with this world, social, and the cultural view to life and community which it is too late to change.

The Delta State Police Command on Tuesday threw caution aside and arrested three community leaders over the recalcitrance of their community to sheathe the sword in the unending communal clashes that has led to several losses of lives and destruction of property.