Bakersfield Debt Division Lawyers
Helping You Navigate Your Liability Distribution Case
During a divorce, more than your assets are on the line - liabilities, such as debts, are also subject to the property division process. At Alternative Divorce Solutions, our Bakersfield debt division attorneys help clients ensure they pursue a fair outcome during debt division disputes that enables them to maintain financial stability post-divorce.
How Do Debts Get Divided in California?
California is a community property state, meaning that spouses typically have equal ownership of property acquired during the marriage, and must divide said property equitably during divorce. This includes liabilities such as debts.
Because assets and liabilities acquired during a marriage are community property in most cases, that means spouses often have to divide debts equally in California, even if only one party is responsible for accruing the debt. For example, it's not uncommon for courts to require that both spouses contribute to paying off credit card debt acquired during the marriage, even if the card was only in the name of one spouse.
However, some debts and liabilities may count as separate property. Generally, if an individual acquires a debt before finalizing their marriage or domestic partnership, that debt may be considered separate property.
Additionally, it's not uncommon for spouses to "commingle" their assets and liabilities. For example, one spouse may accrue some credit card debt before marriage, in which cases that debt is separate property. However, if the credit card debt increases during the marriage, that increase may be considered community property. In such situations, the court tries to divide the asset equitably, meaning that whichever party contributed more to the asset or liability may have more ownership of it post-divorce.
To prevent debt acquired by one party from becoming community property, spouses often draft marital agreements detailing how they intend to divide property in the event of a divorce.
At Alternative Divorce Solutions, our Bakersfield debt division lawyers can help you pursue a fair outcome in your debt division case.
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