Dividing Debt in a Divorce Case in California
When a married couple in California make the decision to divorce, any assets they accumulated while married will be divided between them. For a vast majority of married couples, assets are not the only thing they must divide. For example, many couples in California have debts that must also be divided. The couple can either make a decision as to how the assets and debts will be divided in a settlement agreement or they can have the courts decide on their behalf if they cannot reach an agreement. If you are facing a divorce in California and need to ensure there is a fair allocation of property and debts, it is essential that you obtain the proficient support of a well-versed family law attorney to ensure that you allocate the debts and assets fairly. The skilled litigators at the Knez Law Group, LLP can provide the representation you deserve.
At the Knez Law Group, LLP, the proficient team of attorneys can provide you with professional legal guidance and advice on how the property and assets in your unique case can be divided. With their qualified legal support, you can be rest assured that you will not be held responsible for the debts of your former spouse and only pay what is fair. Consider obtaining the support of the Knez Law Group, LLP. Schedule your complimentary case evaluation today.
How Marital Debt is Divided in California
Generally, debts incurred throughout the course of a marital union are considered community debts, meaning they are the responsibility of both spouses. Whether only one spouse incurred the debt or both, both parties will be held responsible for paying back their half of the owed debt. However, there are legal circumstances that can mitigate the debts you owe.
It is important to identify the assets and debts and determine which debts and assets are attributable to either party. Many times, the parties can reach an agreement regarding splitting the debts and liabilities. However, if an agreement cannot be met, the parties will have to litigate the issue before the court.
A Qualified Family Law Attorney Can Help
The State of California is considered a community property state, meaning all debts and assets accumulated during the marriage belong to both parties equally. If you are facing a divorce, you will need to consider obtaining the legal support of a skilled attorney who will work tirelessly to ensure the debts and assets are divided as fairly as possible under the laws of California.
For the Knez Law Group, LLP every divorce case is uniquely different. When facing a divorce, consider obtaining the support of the Knez Law Group, LLP. The experienced litigators at the firm will work hard to ensure your rights and interests are protected throughout the divorce process. To make an appointment with the proficient attorneys at the Knez Law Group, LLP consider calling (951) 742-7681 or complete the online contact form here.
Matthew J. Knez graduated from the University of Redlands in California where he earned a Bachelor of Arts degree in Creative Writing. He went on to pursue his Law Degree at the University of LaVerne, College of Law in Ontario, California. While pursuing his law degree he earned various awards, including CALI Award in Torts and he was on the Dean’s List. Mr. Knez was also a member of the Justice and Immigration Clinic where he worked with people seeking asylum into the United States from countries where they had experienced persecution or threat of persecution. Additionally, Mr. Knez was a member of Law Review where he was an Associate Editor and published a Law Review article on California family custody move-away cases.