The allocation of debts is one of the most important issues to settle during a divorce.
It is always best if the couple can decide on their own how to separate their assets and financial debts. However, in too many cases, the parties cannot agree on this matter. In such cases, a family court judge will rule on which debts belong to each party or if certain debts are marital debts.
Both parties are responsible for marital debts. Debts, like property, are equitably distributed and no one wants to be responsible for more debt than they actually owe.
If you have questions about the potential allocation of debt or need legal representation during a divorce, contact an experienced Orange County Family attorney who can successfully handle your case and determine how best to protect your financial rights
