Debt, Divorce and Splitting of Assets

Debt, Divorce and Splitting of Assets

No, a spouse is not legally responsible for debts that the other spouse contracted before the marriage and that are, therefore, presumably in just their name. On the other hand, assets garnered during the marriage would fall under a '50/50 split' for all 'community property' states, such as: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.



Living in any other state without 'community property' laws does not necessarily mean the divorce will not result in a 50/50 splitting of assets. In fact, all other states typically have additional stipulations in order to have the assets divided either 50/50 or equitably. For example, Florida has a "equitable distribution” rule which divides the assets based on each spouse's contribution to the said asset. Because of this, divorces can become quite messy and therefore an attorney should be contacted to further clarify the state laws where one currently resides.