Joint Account Loan Responsibility

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Summary

In Michigan, joint account holders are not automatically responsible for a deceased persons loan unless they co-signed. The estate usually assumes the debt. Consult a local attorney for specific advice.

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I am a joint account holder at a credit union with my mom and she got a loan in her name only but she passed away, am I responsible for the loan since I didn't sign the loan agreement
Hello Joe. I'm sorry for your loss. Before proceeding, could you please tell me your location? Laws regarding debt after death can vary by jurisdiction.
Michigan
Hello Joe, in Michigan:
- As a joint account holder, you're not automatically responsible for your mom's loan.
- If you didn't co-sign the loan, you typically aren't held accountable.
- The estate typically assumes the deceased's debts.
Please consult with a local attorney for detailed advice.
Ok thank You
Hello Joe, glad to have been of help. If you have more questions in the future, feel free to reach out. Stay safe and take care.