Switch to ADA Accessible Theme
105 South Avenue Of The Arts, Fort Lauderdale, FL 33312
Fort Lauderdale Divorce
Call Now for a Free Consultation954.945.7591
  • Facebook
  • LinkedIn
Fort Lauderdale Divorce Fort Lauderdale Divorce Mediation Fort Lauderdale Child Custody Attorney Fort Lauderdale Stepparent Adoption
Content Area Top - Arch

What Debts Are Subject To Division During Divorce?


It’s not uncommon for those who get married to pool the majority of their assets. This may eventually involve purchasing a home together, buying a shared car, or even just depositing paychecks into the same checking or savings account. In addition to these assets, many couples also start sharing debt, using shared credit cards or taking out joint loans. While taking these steps can help couples feel like they are sharing responsibility for their financial decisions and allows for enhanced transparency, these debts can end up becoming a point of contention during divorce. There are, however, specific rules in Florida that dictate what kinds of debts are subject to division during divorce and how that division should look.

Most Debts Incurred During a Marriage are Divisible 

Under Florida’s equitable division standard, all of the assets that a couple acquires during their marriage must be split up in a fair manner in the event of divorce. This is true regardless of whose name is on the title or deed. As long as it was purchased or obtained while the couple was still married, the parties will need to divide it if their marriage ends. The same rule applies to debts that were incurred during the course of a couple’s marriage. This often comes as a surprise to those who were unaware that their spouse obtained a student loan, had a separate credit card, or took out a personal loan during the marriage. In these cases, even if the financial obligation is only in the name of one of the spouses, both parties will likely share responsibility for paying that debt off.

How to Split Up Debts 

While both spouses may have a responsibility to cover the loans or credit card debt of the other, this doesn’t necessarily mean that each person will have to split each debt down the middle. Instead, each person may be asked to assume responsibility for specific financial obligations, so that neither party is required to pay a portion of all the debts. Courts will also take a person’s income, separate assets, and ability to pay into consideration when splitting up responsibility for a debt. The total value of debts can even influence other property decisions, with one party being granted a marital asset to balance out any obligations that they have to take on after divorce. It’s also important to note, however, that not all debts are divisible upon divorce.

Separate Debts Remain Separate 

Not all debts will need to be shared after divorce. For instance, debts that were incurred by one spouse after a formal separation or in an attempt to harm the marital estate won’t need to be split up. Similarly, debts that were incurred before the marriage took place will usually remain the sole responsibility of the person who took out the loan. Debts related to an extramarital affair are also rarely made the responsibility of the wronged spouse.

Are You Responsible for Your Spouse’s Debts? Call Today to Find Out 

It’s important that divorcing couples have a thorough understanding of Florida’s equitable division rules when going through divorce. For help determining what your own financial obligations will be after divorce, please reach out to experienced Fort Lauderdale property division lawyer Sandra Bonfiglio, P.A. today.




© 2016 - 2024 Sandra Bonfiglio, P.A. All rights reserved.
This law firm website & legal marketing is managed by MileMark Media.

FLL Divorce Form