What happens to joint debts when we divorce in Florida?
The general rule in a Florida divorce is that the court considers and divides up the “marital” property of the ex-spouses and that the non-marital property of each party remains with the spouse that owns that particular property. In dividing up the marital property, the court is expected to be guided by principles of equity, making sure that the marital property division treats both spouses in a fair (but not necessarily in an exactly similar) manner. Although a property division might not necessarily be 50/50, the property division should be such that each party is treated fairly and exits the divorce with a similar amount of the marital estate
Assets and property are not the only things that get divided during a divorce; the liabilities and the debts of the spouses get divided as well.Similar to assets and property, liabilities are classified as either separate or non-marital or as marital liabilities, depending on who incurred the debt and when it was incurred. If a debt is found to be non-marital, then the spouse who incurred the debt will be singularly responsible for the full debt following the divorce. If on the other hand, the liability is found to be marital, the court may order that both parties continue paying the debt jointly or that some marital assets be sold in order to satisfy the debt. For instance, Jesus’ student loans incurred before marriage will likely continue to be his separate debt, whereas credit cards used for purchases during the marriage will likely be considered a marital liability.
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