This is the seventh installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.
A spouse can be held liable in a divorce for the other spouse’s debts — and it doesn’t necessarily matter whose name the debt is in. When it comes to divorce, there are two forms of debt that courts primarily consider: Living expenses & community property.
Living expenses include the cost of things like mortgage or rent, groceries, utilities, your cable or cell phone, and other, similar expenses. Community property is basically, everything else.
