Marital Debts Must Be Divided in Florida Divorce
It’s sometimes easy for divorcing spouses to forget that marital debts must be divided the same way that assets are distributed between the parties. Through the recession, however, we’ve seen an increasing concern for avoiding liability for more than a client’s fair share of the debts.
If low equity in the marital residence, substantial medical bills or high credit card balances will present important debt division issues in your divorce, you should seek the advice of an attorney with experience in complex or high-conflict property division. We sometimes find that the division of assets might go smoothly enough, with the major snags coming up in the apportionment of marital debt.
Questions About Dividing Marital Debts
Contact Brodie & Friedman, P.A. for the advice of divorce lawyers who know how to protect your interests on debt division issues.
Taking into account such factors as the income of each spouse, any projected alimony obligations, child support issues and your broader asset division objectives, we can advise you about the best ways to apportion such marital debts as:
- Tax obligations
- Home mortgage debt
- Medical or hospital bills
- Credit card debt
- Car payments
- Student loans, unless they’re separate obligations
- Bank loans
- Personal guaranties of business debt
Bear in mind that it’s one thing to divide the primary responsibility for a given debt between divorcing spouses, and another thing altogether to adjust your obligations with a creditor.
If your spouse will be responsible for paying a joint debt and fails to do so, the creditor can pursue you for payment even after the divorce.
Contact our Boca Raton marital debts lawyer today
We keep these realities in mind as we work with our divorce clients, and we therefore counsel a practical and realistic approach to the apportionment of marital debts. For more information about the importance of marital debt division in Florida divorce, contact Brodie & Friedman, P.A. in Boca Raton.