Call 407-792-6697 To Speak To Our Attorney
Peppler Law P.A. Experienced Florida attorney
Contact Menu

Trusted Advice For
You And Your Family

Property division includes marital debts

As we have discussed multiple times on this blog, divorce can have much more than just an emotional toll. In fact, it may be the biggest financial transaction of an individual's life. While the focus of property division is usually on determining marital assets and divvying them up in a way that is fair, Floridians considering marriage dissolution shouldn't overlook the fact that they will also need to deal with marital debts.

These debts can take many forms. Mortgages, auto loans, and credit card debt may all be subjected to division during divorce, which means that those who fail to adequately argue their position may wind up saddled with debt they never expected to be responsible for. But, how does an individual know which debts might be a part of this process?

A good starting point is pulling a credit report. Doing so should give an individual an idea of the current debts they are responsible for, either separately or with their spouse. It is important to note that Florida law defines marital liabilities as any liabilities acquired during the course of marriage, whether individually or jointly. So, even individually held credit card debt may be subject to division during divorce.

The court is tasked with ensuring that property division is equitable. Therefore, these debts won't necessarily be divided equally. A spouse who runs up credit card debt without the other spouse's knowledge may end up retaining a large share of that debt or losing a portion of marital property to make the matter fair. This doesn't happen automatically, of course, which is why Floridians who are contemplating marriage dissolution should consider protecting themselves as fully as possible by acquiring the assistance of a skilled divorce attorney.

No Comments

Leave a comment
Comment Information
Distinguished Lexis Nexis Martindale-Hubbell Peer Review Rated For Ethical Standards and legal ability Client Distinction Award martindale.com The Florida Bar 1950 Lead Counsel Proud Member of Oviedo Winter Springs Regional Chamber of Commerce Avvo Top Contributor 2013 Litigation

Get Help Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

3208 West State Road 426
Suite 1040
Oviedo, FL 32765

Phone: 407-792-6697
Fax: 407-792-2775
Oviedo Law Office Map

Phone Number407-792-6697

Fax Number 407-792-2775

Back To Top