The division of debts between the parties in a divorce is a pivotal and often contentious issue. It is essential to recognize that, under California law, all debts incurred during marriage are considered "community" debts — with both spouses equally liable for them — regardless of which spouse incurred them and for what purpose. However, this does not mean that debt will necessarily be divided "50/50" in the divorce settlement or judgment.
Counsel from a financially savvy, resourceful California family law attorney can be absolutely essential to protect against a disadvantageous outcome when it comes to absorbing marital debt. At the respected Los Angeles area law firm Stolar & Associates, we will analyze all aspects of your financial situation, work to understand your priorities and advocate aggressively for you.
Experienced Family Law Attorneys With Extensive Financial and Tax Knowledge
Our lawyers' knowledge and capabilities extend across the spectrum of complex property and debt division, including:
- Negotiating exchanges in which one spouse agrees to take responsibility for a greater percentage of marital debt in exchange for a greater percentage of assets
- Performing the investigative work and forensic accounting to establish whether specific debts predated the marriage or were incurred after the parties separated with no intent to reconcile
- Accurately calculating tax consequences of various property and debt settlement scenarios — and pursuing innocent spouse claims on behalf of people victimized by a former spouse's incorrect or fraudulent tax filings
- Providing bankruptcy and foreclosure defense representation for people facing significant debt challenges as well as divorce
Dividing Debts in Divorce: Attorneys You Can Trust
Our Beverly Hills-based firm is a proven resource for people facing or considering divorce throughout the L.A. area and Beverly Hills. Negotiating favorable property and debt division outcomes is a clear strength for our skilled lawyers, and we are always prepared for litigation of intensely contested matters.
For a free initial consultation to discuss your personal and financial goals and how our legal services can help you achieve them, call 310.853.5115 or send us e-mail anytime.
