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Family Law Blog

Are Your Spouse’s Debts Split With You?

Monday, January 06, 2020

When divorcing, you may be more concerned with who gets various items or a decent share of the monetary assets. However, you should be just as concerned with the debts because, unfortunately, they can be your debts as well. Many who are divorcing forget that marital debt is split the same as monetary assets.

Marital Property

In most states, anything accrued during a marriage is considered marital property. This includes your debt. So while you may be fine with splitting your finances, you should also be prepared for the reality that you will receive a split of the debt as well after your divorce.

Before Marriage

However, in order for the debt to be split, it has to fit the right criteria. For example, if your spouse went to college before you were married, their student loans would not be considered marital debt. They accrued it before marriage and thus they are solely responsible for it. However, if they solely racked up large credit card debt during the marriage, you would both be responsible for it because it would be considered marital property.

Specific Criteria

There are circumstances in which you will be able to argue that marital debt is not actually marital debt and, thus, should not be split. For example, if you can prove that your partner racked up a large amount of debt frivolously or without your knowledge, the courts may hold them solely responsible. The most obvious example may be a gambling debt. However, so long as you can prove that the debt was created without your knowledge and without your benefit, anything can fit this criteria. Thus, saving you from a large split of the debt.

Conclusion

Are you going through a divorce and need help? Contact us today so the Law Office of Jamra & Jamra can help you navigate this difficult process and get the best possible results.