How an Attorney Can Help With Debt Division
Just as a divorcing couple must decide how to divide all of their assets and property, the couple must also come to an agreement about how to divide their debt. This process will likely be a contentious one since it has the potential to make a large impact upon each individual’s financial future. As such, it is highly advisable that each partner retain their own legal representation in an effort to protect their livelihood following the divorce. An experienced divorce lawyer can guide you through your legal options and help you anticipate any potential disagreements you and your partner may have in regards to debt division.
Understanding the Division of Debt
Under most circumstances, any debt that a couple incurs during their marriage will likely be equally divided between each partner. However, the following debts are less likely to be divided equally:
- Debts independently accrued during a marriage
- Debts incurred prior to a marriage
- Debts with a previously agreed upon division
When there is a significant disparity between the incomes of each partner, debt may be divided in order to reflect that.
Contact a San Jose Debt Division Lawyer Today
At the Law Office of Daniel Jensen, P.C., our San Jose-based legal team understands how complex nearly every aspect of a divorce can be, especially in regards to the division of debt. We can provide discrete, knowledgeable legal advice to help you secure your financial future. To discuss the particulars of your case with one of our debt division lawyers today, please call (408) 296-4100.