Joint liability is the shared responsibility of more than one individual in the event of a legal action. In the case of debt, those with joint liability share responsibility for the entire amount owed from unpaid loans. Additionally, any payments towards a debt discharges all individuals under joint liability not just the person making the payment. This is relevant to executors who must address any debts of the estate and whether there were other individuals under joint liability.
What you need to know
What to do when a loved one dies
When people die, they leave behind a life that must be closed out. Don't tackle it all alone. From planning the funeral to tackling the legal & financial estate, here's an ultimate checklist of all the things an executor needs to do following the loss of a loved one.
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