How are debts handled in a divorce?
Atlanta, GA family law attorney Regina I. Edwards talks about how debts are handled in a divorce usually.
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Debts are often trickier than the assets and it’s up to the courts discretion to divide debts if the parties cannot agree. So there is no bright line rule if a debt is one party’s name versus the other party’s name that doesn’t necessarily mean that the party who’s name it’s in is going to pay the debt. Again, it’s all about fundamental fairness. Did you run up a debt having an affair with someone else that’s not going to be a marital debt. Is it a student loan that enabled you to earn income to support a family maybe that’s marital debt and maybe not, so really, every case is unique. In Georgia because we have this equitable division it can be three different results with three different judges so it’s really important to kind of know your judges to figure out what the possible debt divisions would be. But we’re familiar with all the judges and all the courts that we practice in so we’re able to give tailored advice based on each individual’s debt situation.