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Joint Owner Responsible for All Debts?

I am on my dad's checking account. When he passes away, can his creditors hold me in any way responsible?


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If you are a joint owner of the account, you would in most cases be liable under the deposit contract for any overdraft on the account on your father's death, but that would be as far as your liability would extend. If you are listed only as a signer, even an overdraft would not be your responsibility.

If your father has any other debt at the time of his death, those obligations would become obligations of his estate. Unless you were jointly responsible for them during your father's lifetime, you would not be individually responsible for them after this death, regardless of your involvement with the checking account.

Published on BankingQuestions.com 11/05/09