Young couple not sure where to start

My wife and I are both in our early 20s living in Oro Valley, AZ (suburb of Tucson). Unfortunately she has a form of cancer that will likely take her life within the next few months. We do have a living will and clear instructions on how I should proceed if various medical issues arise, but I am desperately looking for advice regarding the financial issues that come into play.

We are both recently out of college and do not have much in the way of assets, the most expensive items being 1 car each (each worth less than $5k) and her engagement ring. For the last year we have been living with her parents while she receives treatment. I work part time when I can, but we are almost completely financially dependent on her parents.

Her car is in her name only. She has a credit card that she got before we were married and is also only in her name. Would things be greatly simplified if we add my name to the title or put it solely in my name? Does she need a will? Will her medical bills and\or credit card become my responsibility? Are there any other things I should be considering?

While I hate thinking about this, I would rather deal with these things now while we can make changes.

Any help or advice would be greatly appreciated.

Thank you,
Jereme

I am so sorry for this difficult time you are going through. I wish you and she only the best.

I admire you for what you are doing--and that is taking a very mature approach to these matters.

My husband was recently killed in a work accident and yes, we had wills that left everything to one another. However, in our case, a wise thing we did was have things in his name, like the Mortgage (deed to property), vehicles, etc. Even the credit cards were in his name--not mine. This meant that when he died, I was not responsible for his mortgage, car payments, etc. NOW, the various creditors OFFERED me the option of taking OVER those payments and keeping the collateral, but I declined. I deeded the house ( which I did not want ) back to the bank and told the lien holder of his vehicle to come get the vehicle. THIS did NOT penalize MY credit in any way--and in fact, it allowed me to "start over" move to a new location with our seven school aged children and have a fresh start. In other words, I had the CHOICE to keep the house and the car ( as his wife of twenty years) but I was not legally obligated to KEEP the house---which was a wise choice because the property values in that area have declined sharply.
My husband did not have medical bills since he was killed in a head on collision and died on the road before the Life Vac landed to assist, but things like the ambulance bill, etc. None of those did I have to pay--those were "his" debts, even though we were married. The only "down" side--and it isn't really a "down", just a minor inconvenience, the vehicles titled to him that I wanted to keep ( already paid for---five vehicles total), I had to get put into my name as though I was an new owner, which meant turning in the tags, getting new titles, etc. This was a little inconvenient, and they had no liens on them, so I had the ability to keep them or sell them. My point is, the way we structured things, I had OPTIONS. Had MY name been on the mortgage, I would have been bound to it. Had MY name been on the car note, I would have HAD to keep it ( and he owed more than it was worth). By getting rid of it, I was able to go and purchase the vehicle I wanted at a much better rate. I know it sounds so matter of fact and offhand--I don't mean for it to sound that way.
I would get a low cost consultation with an attorney--and he/she will tell you the best way to protect yourself from her debts as well as keep them from coming after yours. Just because you are married, doesn't necessarily mean that ALL the joint property is BOTH yours and hers---as in my example, I live in a community property state, but the cars, in particular those with car loans were ALL his, allowing me the option of not keeping them, or the large monthly payment.
Please consult with an attorney--your situation, while difficult, is not that complex legally.
Our thoughts and prayers are with you and your loved ones.