Debt & Divorce: Who is Responsible?

One of the many questions that clients ask our firms is "who is responsible for debts that were accrued during marriage?"  This question becomes a major issue after couples decide to divorce and have to deal with the division of their property.

The state of Florida is an equitable distribution state.  This means that property is distributed between spouses equitably, not equally.  Most people think that property only refers to material assets, like homes and cars.  However, property also includes debt.  If spouses accumulated debt during their marriage, the debt will be distributed equitably by the family courts of Jacksonville.

For example, let's say two spouses share a credit card and they have racked up debt.  If they move forward with their divorce, the debt will be divided equitably as the court sees fit unless the spouses reach a mutual agreement.

If you have additional questions about debt, equitable distribution or divorce in Jacksonville, contact Ellerin Hutchinson to speak with a Jacksonville divorce lawyer.