Death may saddle you with ex-spouse’s debt

A divorce settlement that assigns a debt payment to your spouse may not free you from paying this obligation; if your ex-spouse dies, you may be saddled with the debt instead, CNN Money reported on June 25.

Although you and your ex-spouse decided on how to divide debt in a divorce agreement, a creditor did not sign off on this decision, and you may still be held liable. This issue is particularly common in the community property states: Arizona, California, Idaho, Louisiana, Nevada, Texas, Washington, New Mexico, and Wisconsin. In community property states, whatever is acquired during the marriage and after it, up until the official legal separation period, is shared between the spouses equally.

Our attorneys at Alexander & Associates in Denton understand the complicated emotions that surround divorce and other family law issues, and we can offer legal remedies to allow for the quick resolution of your issue. Call our offices today at (972) 420-6560 to discuss your situation.