Do I Have Financial Liability Before Divorce is Final?

If you are about to undergo a divorce, or are in the middle of a Granite Bay divorce, you may be wondering if you have financial liability for your spouse’s actions before the divorce is final.  This question can be somewhat complicated, but it is a legitimate question to ask.

 

California is a community property state, which means that all assets and debts acquired during the marriage are presumed to be property of the community; both Husband and Wife.  (There are exceptions to this rule, of course.)  When the Granite Bay divorce parties announce their date of separation, the community ends and each party’s income, assets and debts acquired are generally their separate property.

 

Therefore, if a party acquires a new debt after they have separated, the debt is most likely their separate property.  The tricky part comes in when one party continues to use an existing joint credit card after separation.  Even though the parties have announced their separation, one spouse’s use of the formerly joint credit card could be tagged to the non-using spouse.

 

If you are involved in a Granite Bay divorce case and you are concerned about financial liability before the divorce is final, please give us a call.  We can help you understand the Granite Bay divorce process and any possible financial liability concerns in a free half-hour attorney consultation.