Answer: California is a “community property” state and as such all marital property (i.e. property earned during the course of the marriage regardless of in whose name it is held) will generally the divided by the courts in equal shares. All liabilities and debts incurred by either party as a result of the marriage and […]
Answer: California is a “community property” state and as such all marital property (i.e. property earned during the course of the marriage regardless of in whose name it is held) will generally the divided by the courts in equal shares. All liabilities and debts incurred by either party as a result of the marriage and during the course of the marriage will also be paid out of the marital property regardless of in whose name the liabilities or debts are held. However, that his if you file for divorce and the courts take over the management of all marital assets and debts. If you do not file for divorce and you are the only signatory on the account, the creditor will look to you to pay the full amount owed and will have recourse only against you.
Good luck!
Leonard M. Weiner, Esq./Divorce Solutions