How to Legally Protect Yourself From Your Spouse's Debt - Budgeting Money

Spouse gambling debts. Are You Responsible for Gambling Spouse's Debt in Divorce?

I think Micah is right to regard himself as primarily responsible for paying off the loans, but I hope he will accept your help now in order to save interest, a point Lori E. Our family law and divorce attorneys are deeply committed to our clients. Mrs Micah's Mom July 5, at Mine was student loans and his was on credit cards. Slinky July 7, at 3: To each whatever works for them, though. This includes property acquired by one person rather than their spouse.

North Carolina, for instance, is a common-law state but you're still liable for your spouse's medical bills if she fails to mail slot antique brass. We keep our finances completely separate and will continue to after marriage.

Keep separate bank accounts, take out car and other loans in one name only and title property to one person or the other. The Court of Appeal affirmed holding that the character of the gambling proceeds follow the character of their source. Including annoying tics and debt. He knows how much I owe in student loans. The Trial Court disagreed and characterized as the car as community property.

Well, first, because I married himand I think you both need to be on equal footing in the marriage. This is why I think that couples should have joint funds as well as individual funds.

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Micah unit, not who incurred what debt. I cannot foresee the future.

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Keep Things Separate Actions speak louder than words, so saying that you've separated your finances isn't enough. Consider Bankruptcy Consider filing bankruptcy, even if your spouse refuses. Even in many common law states, debts for necessities like shelter or your children's tuition count as joint debts no matter whose name they are in.

Kelly July 8, at Why was I willing to take on his debt? If you and your spouse file a joint tax return, you're both liable for any unpaid taxes. Tips Check your state's law for any quirks specific to that state.

Your spouse's creditors may, however, have the right to take property that you own jointly with your spouse.

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I could be wrong, of course. Including our credit card debt when we had it. If a husband runs up a credit card debt, for example, both parties may be liable for it during the divorce. Madraida November 30, at The non-gambling partner may not even be aware gambling debts exist.

So how did it all work out? Although Husband claimed the winnings were community property, the Trial Court disagreed and awarded the winnings to Wife as her separate property. We determined our total household expenses THE.

It took months of talking about it and working it out, but we decided to set financial goals together.