Dividing Debt During a Divorce
During a divorce, the separating couple must divide both their assets and their debts. While the division of assets is likely to be contentious for the divorcing couple, the division of debt can be even more so. As such, an experienced family lawyer can provide critical legal advice to individuals wishing to ensure the division of debt from their dissolved marriage is fair. In most cases, individuals pursuing either a contested or uncontested divorce stand to benefit from the legal counsel of a skilled family lawyer.
How Debt May be Divided During Divorce
Most, if not all, of the debt that a couple accrues during the course of their marriage will be divided evenly between the partners. However, there are some circumstances that may alter the division of debt or clear one individual of specific debts, including:
- Independently accrued debts
- Debts that have already been divided
Furthermore, when there is a great disparity between the independent incomes of the divorcing couple, the debt may be divided according to income level. Ensuring that assets and debts alike are fairly divided between the divorcing couple may be secured more amicably with the help of an experienced family lawyer.
Contact a Denton Division of Debt Family Lawyer Today
The Denton family lawyers at Alexander & Associates understand how complicated divorce can be, especially when it comes to the division of debt. Our legal team can provide clients with discrete legal advice to help them secure their future finances. Contact us today at (972) 420-6560 to discuss your situation.