Is drug addiction grounds for divorce?
Is drug addiction grounds for divorce?
In order to be granted a divorce on the ground of habitual drug addiction, you must show that your spouse has an addiction and that this drug abuse began after you were married.
Is a spouse legally responsible for medical bills?
You are liable for medical debts of your spouse under a legal theory called the Doctrine of Necessities. If your spouse incurs medical debts during the marriage, you are liable for the debt. Even if the bills only come in the name of your spouse. Even if you did not sign for the debts.
Can I be held liable for my spouse’s debts?
Since California is a community property state, the law applies that the community estate shared between both individuals is liable for a debt incurred by either spouse during the marriage. All community property shared equally between husband and wife can be held liable for repaying the debts of one spouse.
Can a creditor come after me for my spouse’s debts?
Usually, a person is responsible only for his or her own debts. However, if both you and your spouse signed for the debt, then the creditor can usually come after either of you to get payment. …
Do I have to pay my deceased husband’s credit card debt?
When someone dies, their debts become a liability on their estate. The executor of the estate, or the administrator if no Will has been left, is responsible for paying any outstanding debts from the estate. If no estate is left, then there is no money to pay off the debts and the debts will usually die with them.
What happens if my husband dies with debt?
When your spouse dies, their debt survives, but that doesn’t necessarily mean you’re responsible for paying it. The debt of a deceased person is paid from their estate, which is simply the sum of all the assets they owned at death.
Is it better to have a will or a trust?
What is Better, a Will, or a Trust? A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate. However, if you have minor children, creating a will that names a guardian is critical to protecting both the minors and any inheritance.
What are the disadvantages of a trust?
Drawbacks of a Living Trust
- Paperwork. Setting up a living trust isn’t difficult or expensive, but it requires some paperwork.
- Record Keeping. After a revocable living trust is created, little day-to-day record keeping is required.
- Transfer Taxes.
- Difficulty Refinancing Trust Property.
- No Cutoff of Creditors’ Claims.
Does a trust override a will?
A will and a trust are separate legal documents that typically share a common goal of facilitating a unified estate plan. Since revocable trusts become operative before the will takes effect at death, the trust takes precedence over the will, when there are discrepancies between the two.
Why would a person want to set up a trust?
To manage and control spending and investments to protect beneficiaries from poor judgment and waste; To avoid court-supervised probate of trust assets and be private; To protect trust assets from the beneficiaries’ creditors; To reduce income taxes or shelter assets from estate and transfer taxes.
Why have a trust instead of a will?
Using a revocable living trust instead of a will means assets owned by your trust will bypass probate and flow to your heirs as you’ve outlined in the trust documents. A trust lets investors have control over their assets long after they pass away.
How long can a trust remain open after death?
21 years
How do you settle a trust after death?
Settling a trust after death
- The procedure for settling a trust after death entails:
- Step 1: Get death certificate copies.
- Step 2: Inventory the assets in the estate.
- Step 3: Work with a trust attorney to understand the grantor’s distribution wishes, timelines, and fiduciary responsibilities.
- Step 4: Asset appraisal.
- Step 5: Pay taxes.
Can a trustee steal from a trust?
In short, trustees have a lot of power and responsibility. Unfortunately, if your trustee is not 100% honest and ethical, there are ways for this person to steal from the trust: Neglect to itemize (hide) an asset in order to keep it for themself. Embellish their compensation – basically overcharging for their services.
Can a trustee remove a beneficiary from a trust?
In most cases, a trustee cannot remove a beneficiary from a trust. This power of appointment generally is intended to allow the surviving spouse to make changes to the trust for their own benefit, or the benefit of their children and heirs. …
Does a trustee of a trust get paid?
Trustees do get paid-being a trustee is both time-consuming and requires special skills. Some trusts stipulate hourly or flat fees for trustee duties. Professional trustees can earn over $100 per hour, while corporate trustees make 1-2% of the trust’s assets as annual compensation.
What is the hourly rate for a trustee?
Our trustee should receive a fee for his or her services in accord with the hourly rate that a private professional fiduciary would charge.” Professional fiduciaries, licensed by California’s Professional Fiduciaries Bureau, charge in the neighborhood of $100 to $150 per hour.
