make the spouse (who did not take the loan or go to school) pay for 1/2? If anyone knows of where there is any legal information on this it would be helpful
2007-11-05 02:51:58 · 5 answers · asked by badneighborvt 3 in Family & Relationships ➔ Marriage & Divorce
Yes, assets and liabilities are equally shared at the dissolution of the marriage. However, if you can show that the loans only benefited one spouse which means that there was no income gain from the education then the primary beneficiary will retain responsibility for the debit. But the best way to offset the debit is in the division of the property. If you set the value high and give the other person the property then that can offset your responsibility for the debit. Declared value of the properly has little to do with the actual value and is rarely contested.
Whatever you do make sure that everything is documented in the divorce decree on who gets what and who pays what.
2007-11-05 02:59:36 · answer #1 · answered by Older Guy 3 · 0⤊ 0⤋
This is a matter for property settlement negotiations during the divorce procedures. Specifically, in equitable distribution states, whil one party may not have benefitted from the result of the loans, the court will consider they COULD have if the marriage were held intact and apportion an 'equitable' portion of the debt to each party.
There simply isn't enough information to form any sort of correct answer.
2007-11-05 03:05:54 · answer #2 · answered by hexeliebe 6 · 0⤊ 0⤋
inspite of the reality that the student loan is a marital debt, many states will evaluate who reward from the debt. In Minnesota and Wisconsin, the guy who incurred it may pay it and it does not look on the marital stability sheet in maximum circumstances.
2016-10-15 02:51:14 · answer #3 · answered by ? 4 · 0⤊ 0⤋
I noticed you asked about student loan information and I found some websites on that can help with that exact question. Just have a look for yourself… http://www.shortenurl.com/5oodk
Goodluck!
2007-11-07 20:46:49 · answer #4 · answered by Mr. Fitness 2 · 0⤊ 0⤋
You should never have to pay for your spouse's college loans, while you are married or otherwise. It's THEIR loan and their responsibility... if it is in their name only (and i hope it is), it's also their debt.
You can ask your attorney to make a note of this debt in the divorce decree, stating you are not responsible for that college debt.
2007-11-05 02:55:45 · answer #5 · answered by letterstoheather 7 · 0⤊ 1⤋