Is a wife responsible for a husband’s credit card debt?

You are generally not responsible for your spouse’s credit card debt unless you are a co-signor for the card or it is a joint account. However, state laws vary and divorce or the death of your spouse could also impact your liability for this debt.

Most U.S. states fall into the category of common law property states. In these 41 states, any assets acquired by one spouse belong solely to them. On the other hand, in the nine states that go with so-called community law (which include Louisiana, Arizona, California, Texas, Washington, Idaho, Nevada, New Mexico and Wisconsin) assets acquired in the course of a marriage belong to both spouses.

Should you pay off credit card debt before divorce?

Pay off or transfer debts ahead of the divorce if possible. This way if your spouse doesn’t make their debt payments, they’ll be the only one to suffer.

Are authorized users responsible for debt in divorce?

In most cases, both parties will be partially responsible for the debt, regardless of who was making the payment. If there is only one authorized user on the account, that party likely will be given full responsibility for payment.

Is my wife entitled to half my savings?

If you are married in community of property, all retirement funds will form part of the joint estate and, in the event of divorce, each spouse will be entitled to a 50% share of the joint estate.

If you are thinking of getting a divorce, come in and talk to Ty Zdravko. Ty Zdravko practices law as a divorce attorney, and family law attorney in Palm Harbor, Clearwater and the surrounding area.

For more information, visit our website at www.divorceboardcertified.com
or call (727) 787-5919.