Besides the division of assets, the allocation of debts is one of the most important issues to settle during a divorce.
Both parties are responsible for marital debts that were incurred during the marriage. Generally, the decision regarding the allocation of debts follows the same principle as division of property – all debts must be equitably distributed. No one wants to be responsible for more debt that they actually owe.
If you have questions about the potential allocation of debt during your divorce, contact an experienced Orange County Family Law attorney to determine how best to protect your financial rights during your divorce and how to help you get a fair allocation.
