Who Is Responsible For The Debts of The Marriage?
At the Orange County Law office of David P Schwarz we are experienced Community property Debt division attorneys. We have divided up numerous debts amongst divorced parties throughout 20 years of practice. Please call our Orange County Office at 949 735 9266 or contact us via the web or via email at firstname.lastname@example.org.
There must be an equal division of all debts incurred during the marriage at the time of trial. The converse holds true as well that all residual assets awarded each spouse after deduction of community obligations which must be divided equally to all the parties as well. The Orange County Courts and Orange County Community Property debt division Attorneys will assist you in this property division. The general rule as to the division of community debts is as follows:
Except upon the written agreement of the parties, or on oral stipulation of the parties in open court, or as otherwise provided in this division, in a proceeding for dissolution of marriage or for legal separation of the parties, the court shall, either in its judgment of dissolution of the marriage, in its judgment of legal separation of the parties, or at a later time if it expressly reserves jurisdiction to make such a property division, divide the community estate of the parties equally.
However, as discussed below, the equal division of community property general rule is subject to special exceptions and well-established case law which seeks to make equity and fairness a major part of the division of assets. That way no party is left with more debt than the other if they are not able to pay it back.
An Orange County Community property lawyer can help you protect you from the misallocation of community debts. These debts which the community estate is liable are divided up at the time of trial. However, they do not have to be divided up equally.
At the Law Office of David P Schwarz we will make sure that all Premarital debts Debts, which are debts incurred before marriage are paid by the party who incurred the debt prior to marriage. We will further make sure that he community does not pay for any premarital debt
An Orange County Community Property debt division lawyer will further protect you from Marital preseparation debts. These debts are incurred during marriage but prior to separation. They usually are divided equally among the parties. However, there are a few exceptions. Such as a partyh who deliberately spends money without the other parties consent.
Other debts such as Postseparation/predissolution debts Debts incurred after separation but before entry of judgment of dissolution or legal separation shall be divided according to whether is was a necessity of life or not a necessity of life.
At the Orange County Law Office of David P Schwarz we are aggressive and excellent Community Property debt division lawyers who can effectively protect you from any inappropriate division of community or separate property debt accumulated during your marriage. Please contact our office at 949 735 9266 or via the web or email at email@example.com.