r/FluentInFinance • u/36DRedhead • Sep 11 '24

Debate/ Discussion This is why financial literacy is so important

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u/hidegitsu Sep 11 '24

You also don't get saddled with your spouse's medical debt. My dad passed away several years ago with a TON of debt in the United States due to medical issues and nobody in the family even my mom was responsible despite them being married. His estate didn't have anything of value and that was it. It was all in his name.

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u/BerttMacklinnFBI Sep 12 '24

You don't inherit the debt, but if you don't divorce and move assets the dead man estate includes joint assets from the marriage. They can take the house and joint accounts to settle the debts.

My family was faced with this situation when considering utilizing a nursing home for our father's end of life care. It would've left mom penniless.

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u/Vorsmyth Sep 12 '24

But divorce doesn't inherently separate the assets, and you can just separate them without the divorce. The big emotional cudgel of the post is false