An article by our probate and trust litigation partner Lynda Chung, “The Impact of Spouse’s Death on Married Couple’s Community Property and Debts,” was published in the annual journal of the Korean-American CPA Society of Southern California.
Lynda’s article discusses what happens to the debts of a married couple when a spouse dies. These issues include whether a creditor can collect from the surviving spouse, and what property becomes an asset of the surviving spouse due to the right of survivorship or pursuant to the couple’s estate planning instruments.
The Korean-American CPA Society of Southern California is the largest Korean-American member association in the U.S. It has over 500 members, who include professionals in public practice, industry, government, education and consulting.