I am 60 years old and am considering getting married to a 65 year old man who has a lot of personal debt. If he passed away before me, will I automatically have to assume his debt as my own?
Answer
Not directly, but you need to keep all finances and assets separate. You also need a estate plan to avoid your assets going to pay his old debts if you pass away first (not directly, but by garnishments after he inherits).
Answer
No, but you will want to sit down witha lawyer to (1) do an estate plan, (2) do a prenuptial agreement, and (3) advise you on how to keep your finances separate.
Answer
You would not be responsible for his individual debt. However, if you are on joint accounts or joint title to bank accounts, residence, auto, etc., you are subject to having liens put against your property. You need to speak with an attorney who can advise you how best to protect your assets.
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