Sentences with phrase «for debts incurred during the marriage»

However, if you live in a community property state (California, Arizona, Idaho, Nevada, Louisiana, New Mexico, Washington, Texas or Wisconsin), your spouse and you may be responsible for debts incurred during the marriage, and the individual debts of your spouse may appear on your credit report as well.

The good news is family members aren't responsible for any debt left behind after death, unless they've co-signed on that debt or live in a community property state where spouses are responsible for debt incurred during the marriage.

Loved ones don't «inherit» debt, unless they've co-signed on a dotted line or live in a community property state (in which case, a spouse is on the hook for debt incurred during the marriage).

Not exact matches

If you live in a community property state: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin the surviving spouse is responsible for debts incurred by the account holder during his or her marriage — even if the surviving spouse did not cosign.

There are some cases where both partners can become liable for student debt incurred during a marriage, even if only one person's name is on the loan.

If either of the parties tends to spend far more than the other, you can describe in the prenuptial agreement how you want debts incurred during the marriage to be treated for equitable distribution purposes.

If you live in a community property state, you both may be responsible for debts incurred on individual accounts during your marriage.

The court may decide one spouse is responsible for all joint debts and liabilities of the parties incurred during marriage.

In most community property states, both spouses are equally responsible for the repayment of debt incurred during the marriage, even if only one spouse enjoyed the benefit.

Unless the creditor was specifically looking to the separate property of one spouse for payment, all debts incurred during marriage are marital.