Question: My husband has passed away. He has business debts and credits cards and leases which I have not co-signed on.
His only assets are RRSP’s and a small life insurance policy of which I am the beneficiary.
Am I responsible for his debts as the executor of his estate?
Answer: No, you are not responsible for someone else’s debts, unless you have co-signed for them. As executor of his estate you will work with your lawyer to liquidate his assets and use those assets to pay his creditors; your lawyer can provide you with more information.